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2029
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HARRY HUGHES, Governor
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revenues of the facility, if the facility is implemented becomes
operational.
(ii) State loans extended under this Act shall
be:
1. For a term not greater than the useful
life of the facility or part of the facility being financed; and
2. Subject to the same rate of interest
as the bonds from which proceeds are used to provide the loan.
(c) A federal grant which may be available for the
purposes of this Act shall be applied first to the cost of
acquisition, design, construction, equipping, or improvement of a
facility. The percentage of State financial assistance under
this Act shall be applied against the eligible costs remaining
after the federal grant is applied.
(d) All recipients of State financial assistance
under this Act shall comply with all federal or State laws,
regulations, orders, or permit conditions pertaining to air or
water quality or waste management. In addition, all facilities
of a municipality receiving financial assistance under this Act
shall be included in the county solid waste plan required under
Section 9-501 Subtitle 5 of Title 9 of the Health - Environmental
Article of the Code, as amended.
(e) The Maryland Environmental Service, in
consultation with the Departments of Health and Mental Hygiene
and State Planning, shall annually prepare and submit to the
Board of Public Works a statement of priority projects for the
ensuing calendar year. High funding priorities shall be for
facilities serving statewide or regional needs or which are
subject to corrective orders issued by the Secretary of Health
and Mental Hygiene. An award of financial assistance under this
Act for any one facility may not exceed 25 percent of the
aggregate principal amount of the general obligation bonds
authorized to be issued under this loan.
(f) The cost of a facility eligible for a grant or
loan shall include the cost of feasibility studies, plans and
specifications, equipment and machinery, rehabilitation,
construction, land, easements, and rights of way. In addition,
one year's debt service reserve fund requirement for any bonds
issued by the Maryland Environmental Service may be considered an
eligible cost. Staff or operating costs, other than for
start-up, shall not be considered eligible costs.
(6) There is hereby levied and imposed an annual State tax
on all assessable property in the State in rate and amount
sufficient to pay the principal of and interest on the bonds as
and when due and until paid in full, such principal to be
discharged within fifteen years of the date of issue of the
bonds.
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