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2006 LAWS OF MARYLAND
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Ch. 63
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1. ARE RESIDENTS OF THE COUNTY;
2. QUALIFY BASED ON INCOME LIMITS ESTABLISHED BY
THE PRINCE GEORGE'S AUTHORITY WITH THE APPROVAL OF THE COUNTY
GOVERNING BODY; AND
3. ARE BUYING HOUSING DETERMINED TO BE DECENT,
SAFE, AND ADEQUATE ACCORDING TO STANDARDS ADOPTED BY THE PRINCE
GEORGE'S AUTHORITY; AND
(II) THE PRINCE GEORGE'S AUTHORITY DETERMINES THAT
INCOME FROM THE ASSISTANCE PROGRAM WILL COVER THE COSTS OF THE
PROGRAM.
(E) SAME — BONDS.
(1) WITH THE APPROVAL OF THE PRINCE GEORGE'S COUNTY
GOVERNING BODY, THE PRINCE GEORGE'S AUTHORITY WITHIN ITS AREA OF
OPERATION MAY FINANCE HOUSING, HOUSING REHABILITATION, A HOUSING
PROJECT, OR A CONTINUING CARE FACILITY AUTHORIZED BY THIS TITLE BY ISSUING
AND SELLING THE BONDS OF ANY TYPE.
(2) BONDS THAT MAY BE ISSUED UNDER THIS SUBSECTION INCLUDE
THOSE ON WHICH THE PRINCIPAL AND INTEREST ARE PAYABLE:
(I) ONLY FROM THE INCOME AND REVENUES OF THE HOUSING
PROJECT OR CONTINUING CARE FACILITY THAT IS FINANCED WITH THE PROCEEDS
OF THE BONDS OR WITH BOTH THOSE PROCEEDS AND A FEDERAL GRANT;
(II) ONLY FROM THE INCOME AND REVENUES OF DESIGNATED
HOUSING PROJECTS WHETHER OR NOT THEY WERE FINANCED WHOLLY OR PARTLY
WITH THE PROCEEDS OF THE BONDS; OR
(III) FROM ITS REVENUES GENERALLY.
(3) A BOND UNDER THIS SUBSECTION MAY BE SECURED BY PLEDGE OF
ANY REVENUE OR A MORTGAGE OF A HOUSING PROJECT, PROJECTS, OR OTHER
PROPERTY OF THE PRINCE GEORGE'S AUTHORITY.
(4) BONDS OF THE PRINCE GEORGE'S AUTHORITY MAY BE SOLD AT
PUBLIC OR PRIVATE SALE IN THE MANNER AND ON THE TERMS THAT ARE
AUTHORIZED BY RESOLUTION OF THE PRINCE GEORGE'S AUTHORITY.
(F) EFFECT OF SECTION.
THIS SECTION DOES NOT PREEMPT OR SUPERSEDE THE REGULATORY
AUTHORITY OF A STATE GOVERNMENTAL UNIT UNDER STATE LAW.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 44A, § 4-102(b) through (g) and the second
sentence of (c).
In subsection (a)(3) of this section, the former reference to "pursuant to" is
- 542 -
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