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HARRY HUGHES, Governor 2413
13-125. RESERVED.
13-126. RESERVED.
13-127. RESERVED.
13-128. RESERVED.
PART IV. USE OF INSURANCE FUNDS.
13-129.
SUBJECT TO THE PROVISIONS OF THIS PART IV, THE AUTHORITY
MAY, FROM THE BOND INSURANCE FUND:
(1) INSURE THE PAYMENT OR REPAYMENT OF ALL OR ANY
PART OF THE PRINCIPAL OF, REDEMPTION OR PREPAYMENT PREMIUMS OR
PENALTIES ON, AND INTEREST ON BONDS;
(2) INSURE THE PAYMENT OR REPAYMENT OF ALL OR ANY
PART OF THE PRINCIPAL OF, REDEMPTION OR PREPAYMENT PREMIUMS OR
PENALTIES ON, AND INTEREST ON ANY INSTRUMENT EXECUTED, OBTAINED,
OR DELIVERED IN CONNECTION WITH THE ISSUANCE AND SALE OF BONDS;
AND
(3) PAY OR INSURE THE PAYMENT OF ANY FEES OR PREMIUMS
NECESSARY TO OBTAIN INSURANCE, GUARANTEES, OR OTHER CREDIT
SUPPORT FROM ANY PERSON IN CONNECTION WITH FINANCIAL ASSISTANCE
PROVIDED BY THE AUTHORITY UNDER THIS SUBTITLE.
13-130.
(A) THE AUTHORITY MAY USE THE BOND INSURANCE FUND FOR THE
PURPOSES DESCRIBED IN § 13-129 OF THIS SUBTITLE ONLY IF THE
REQUIREMENTS OF THIS SECTION ARE SATISFIED.
(B) ECONOMIC IMPACT. - THE AUTHORITY SHALL DETERMINE, IN
ITS SOLE AND ABSOLUTE DISCRETION, THAT THE ECONOMIC IMPACT OF THE
TRANSACTION WILL BE SUBSTANTIAL. TO DETERMINE THE ECONOMIC
IMPACT OF A TRANSACTION, THE AUTHORITY MAY CONSIDER ANY FACTOR IT
CONSIDERS RELEVANT.
(C) REMOVAL OR ABANDONMENT OF FACILITIES. - (1) THE
AUTHORITY SHALL DETERMINE THAT THE ACQUISITION OF A FACILITY WILL
NOT RESULT IN:
(I) THE REMOVAL OF THE BUSINESS OPERATIONS OF
THE FACILITY USER FROM ONE COUNTY TO ANOTHER COUNTY; OR
(II) THE ABANDONMENT OF A FACILITY IN THE
STATE; OR
(2) IF THE ACQUISITION OF A FACILITY WILL RESULT IN
THE OCCURRENCE OF EITHER OF THESE EVENTS, THE AUTHORITY SHALL
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