|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HARRY HUGHES, Governor
|
|
567
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 AUTHORIZED PURPOSE OBLIGATIONS; AND
(2) 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.
13-132.
(A) THE AUTHORITY MAY USE THE AUTHORIZED PURPOSE INSURANCE
FUND FOR THE PURPOSES DESCRIBED IN § 13-131 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. - (1) THE AUTHORITY SHALL
DETERMINE THAT THE TRANSACTION WILL NOT RESULT IN:
(I) THE REMOVAL OF THE BUSINESS OPERATIONS OF
ANY PERSON BENEFITING FROM THE TRANSACTION, FROM ONE COUNTY TO
ANOTHER COUNTY; OR
(II) THE ABANDONMENT OF THE BUSINESS OPERATIONS
OF ANY PERSON BENEFITING FROM THE TRANSACTION, IN THE STATE; OR
(2) IF THE TRANSACTION WILL RESULT IN THE OCCURRENCE
OF EITHER OF THESE EVENTS, THE AUTHORITY SHALL DETERMINE THAT THE
TRANSACTION WILL:
(I) DISCOURAGE THE BUSINESS FROM LEAVING THE
STATE; OR
(II) PRESERVE THE COMPETITIVE POSITION OF THE
BUSINESS IN ITS INDUSTRY.
(D) RETAIL ESTABLISHMENT EXCLUDED. - THE FINANCIAL
ASSISTANCE TO BE PROVIDED BY THE AUTHORITY MAY NOT BE USED IN
CONNECTION WITH A RETAIL ESTABLISHMENT UNLESS THE AUTHORITY
DETERMINES, IN ITS SOLE AND ABSOLUTE DISCRETION, THAT FINANCIAL
ASSISTANCE IN CONNECTION WITH A RETAIL ESTABLISHMENT WILL
ACCOMPLISH THE PURPOSES OF THIS SUBTITLE.
(E) OPERATION BY AUTHORITY. - THE AUTHORITY SHALL DETERMINE
THAT THE AUTHORITY WILL NOT BE REQUIRED, EXCEPT ON DEFAULT, TO
OPERATE, SERVICE, OR MAINTAIN ANY BUSINESS.
(F) SECURITY. - THE AUTHORIZED PURPOSE OBLIGATIONS WITH
RESPECT TO WHICH FINANCIAL ASSISTANCE IS PROVIDED BY THE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
