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2405
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HARRY HUGHES, Governor
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(4) PROMOTE ECONOMIC DEVELOPMENT;
(5) PROTECT NATURAL RESOURCES AND ENCOURAGE RESOURCE
RECOVERY; AND
(6) GENERALLY PROMOTE THE HEALTH, WELFARE, AND SAFETY
OF THE RESIDENTS OF EACH OF THE COUNTIES AND MUNICIPALITIES OF
THE STATE.
(C) CONSTRUCTION OF SUBTITLE. - THIS SUBTITLE SHALL BE
LIBERALLY CONSTRUED TO EFFECT ITS PURPOSES.
13-103.
IN ANY SUIT, ACTION, OR PROCEEDING INVOLVING THE VALIDITY OR
ENFORCEABILITY OF ANY AGREEMENT ENTERED INTO BY THE AUTHORITY
UNDER THIS SUBTITLE, OR OF BONDS ISSUED BY THE AUTHORITY, OR ANY
SECURITY THEREFOR, ANY FINDING BY THE AUTHORITY UNDER THIS
SUBTITLE AND ANY FINDING BY THE AUTHORITY AS TO THE PUBLIC
PURPOSE OF ANY ACTION TAKEN UNDER THIS SUBTITLE AND THE
APPROPRIATENESS OF THOSE ACTIONS TO SERVE THE PUBLIC PURPOSE
SHALL BE CONCLUSIVE.
13-104. RESERVED.
13-105. RESERVED.
13-106. RESERVED.
PART II. ESTABLISHMENT AND ORGANIZATION OF AUTHORITY
13-107.
THERE IS A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING
AUTHORITY IN THE DEPARTMENT, ESTABLISHED AS A BODY CORPORATE AND
POLITIC AND A PUBLIC INSTRUMENTALITY OF THE STATE.
13-108.
(A) COMPOSITION. - THE AUTHORITY CONSISTS OF THE FOLLOWING
9 MEMBERS:
(1) 7 MEMBERS APPOINTED BY THE SECRETARY WITH THE
APPROVAL OF THE GOVERNOR; AND
(2) AS EX OFFICIO MEMBERS:
(I) THE STATE TREASURER OR THE STATE
COMPTROLLER, AS DESIGNATED BY THE GOVERNOR; AND
(II) THE SECRETARY OR THE SECRETARY'S DESIGNEE.
(B) TENURE; VACANCIES. - (1) THE TERM OF AN APPOINTED
MEMBER IS 5 YEARS.
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