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HARRY HUGHES, Governor 53
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is deemed to be administrative in nature and not subject to
referendum and, except in a county or municipality that does not
have a publicly elected chief executive officer, shall be subject
to approval of the chief executive officer. The resolution shall
include proposed articles of incorporation of the authority that
state:
(1) The name of the authority, which shall be
"Industrial Development Authority of (here insert the name of the
incorporating county or municipality)";
(2) The authority is formed under this subtitle;
(3) The names, addresses, and terms of office of the
first directors of the authority;
(4) The location of the principal office of the
authority;
(5) The purposes for which the authority is formed;
and
(6) The powers of the authority, subject to the
restrictions or limitations on the powers of the authority set
forth in subsections (g), (h), (j), and (k) of this section.
266F.
(d) Bonds shall be sold in such manner, either at public or
private (negotiated) sale, and upon such terms, at, above, or
below par, as the legislative body of the county or municipality
or the board of directors of an authority deems best. Any
contract for the acquisition of any facility may provide that
payment shall be made in bonds. Bonds are not subject to the
limitations of §[§] 9, 10, or 11 of Article 31 of the Code.
266DD-1.
(b) The Community Development Administration is hereby
created as a division of the principal Department of Economic and
Community Development to coordinate the various activities and
programs which may contribute to sound community development, to
encourage and facilitate the development of new and existing
communities by reducing the costs of development through grants
and loans, to encourage and facilitate energy conservation and
the utilization of solar energy in housing and commercial
buildings by providing grants, loans, and other forms of
financial assistance, making available land for such development
and by assisting the efforts of private enterprise,
municipalities, counties, local public agencies and local
development corporations. Except for grants for energy
conservation in residential buildings which may be awarded to the
Administration under Title V of the Energy Security Act, P.L.
96-294, grants of land or money shall be limited to local
governments or to organizations which are defined under §
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