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Session Laws, 2005
Volume 752, Page 1366   View pdf image
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Ch. 275
2005 LAWS OF MARYLAND
AGREEMENTS, MORTGAGES, AND OTHER INSTRUMENTS THAT IT DETERMINES TO BE
NECESSARY OR DESIRABLE TO EVIDENCE OR SECURE THE LOAN. (2) IF PROPERTY OF THE AUTHORITY IS LEASED TO ANY PERSON, THE
LEASE MAY PROVIDE THAT ON THE CONVEYANCE OF THE PROPERTY, THE LESSEE OR
ANOTHER PERSON MAY OR SHALL PURCHASE OR OTHERWISE ACQUIRE THE
PROPERTY FOR THE CONSIDERATION THAT THE AUTHORITY ESTABLISHES. (C) AN OBLIGATION OF THE AUTHORITY IS NOT A DEBT, LIABILITY, OR
PLEDGE OF FULL FAITH AND CREDIT OF THE STATE AND MAY NOT BE DEEMED TO
CONSTITUTE A DEBT, LIABILITY, OR PLEDGE OF FULL FAITH AND CREDIT OF THE
STATE OR ANY COUNTY. 5-1707. (A)  THE AUTHORITY MAY: (1)   FIX, REVISE, AND COLLECT RATES AND CHARGES FOR THE USE OF
THE SERVICES OF THE AUTHORITY; (2)   CONTRACT WITH A PERSON FOR THE USE OF ANY OF THE SERVICES
OF THE AUTHORITY; AND (3)   ESTABLISH THE TERMS AND CONDITIONS AND FIX THE TERMS AND
CONDITIONS FOR THE USE OF THE SERVICES. (B)  (1) THE RATES OR CHARGES OF THE AUTHORITY MAY NOT BE SUBJECT
TO SUPERVISION OR REGULATION BY ANY OTHER UNIT OF THE STATE OR ANY
POLITICAL SUBDIVISION OF THE STATE. (2) THE RATES, CHARGES, AND ALL OTHER REVENUES DERIVED BY THE
AUTHORITY MAY BE APPLIED BY THE AUTHORITY TO ANY LAWFUL PURPOSE,
SUBJECT TO THE PROVISIONS OF ANY RESOLUTION, TRUST INDENTURE, OR OTHER
AGREEMENT RELATING TO BONDS OR THE AUTHORITY. (C)  THE NET EARNINGS OF THE AUTHORITY, ASIDE FROM THOSE NECESSARY
TO PAY OBLIGATIONS OR TO IMPLEMENT THE AUTHORITY'S PROGRAMS, MAY NOT
BENEFIT ANY PERSON OTHER THAN THE COUNTY OR COUNTIES IN WHICH THE
FACILITY IS LOCATED. 5-1708. (A)     EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, THE
AUTHORITY MAY NOT BE REQUIRED TO PAY ANY TAXES OR ASSESSMENTS ON ITS
PROPERTIES OR ACTIVITIES OR ON ANY REVENUES FROM THE PROPERTIES OR
ACTIVITIES. (B)     LAND OR A FACILITY THAT THE AUTHORITY SELLS OR LEASES TO A
PRIVATE ENTITY IS SUBJECT TO STATE AND LOCAL PROPERTY TAXES FROM THE
TIME OF THE SALE OR LEASE.
- 1366 -


 
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Session Laws, 2005
Volume 752, Page 1366   View pdf image
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