2368

LAWS OF MARYLAND

Ch. 376

(16) (a) Administer a program of financial assistance
for energy conservation projects and solar energy projects.
Financial assistance shall be provided with funds and other
moneys made available to the Administration for such projects
from sources including, but not limited to: payments of financial
assistance made to the Administration pursuant to Title V of the
Energy Security Act (P.L. 96-294); bonds or notes issued by the
Administration pursuant to this subheading; or any bonds or notes
issued by the State of Maryland. [The interest rate or rates and
other terms of loans financed from the proceeds of any bonds or
notes shall be at least sufficient to assure the payment in full
of the bonds or notes and the interest thereon as they become
due, except as otherwise provided in a trust agreement.] Subject
to the provisions of any contract with noteholders or
bondholders, consent to the modification, with respect to rate of
interest, time of payments of any installment of principal or
interest, security, or any other term, of any loan, loan
commitment, contract or agreement of any kind to which the
Administration is a party. In connection with any property on
which the Administration holds a loan, the Administration is
authorized to foreclose on the property or commence any action to
protect or enforce any right conferred upon it by any law,
mortgage contract or other agreement, and to bid for and purchase
the property at any foreclosure or at any other sale, or acquire
and take possession of the property; and in either event the
Administration may complete, administer, pay the principal of and
interest on any obligations incurred in connection with the
property, dispose of, and otherwise deal with the property, in a
manner as may be necessary or desirable to protect the interests
of the Administration. Any lien held by the Administration on
property shall be a lien superior to all other liens on the
property except liens for taxes owed to the State of Maryland or
any subdivision thereof and earlier mortgage liens. The
Administration may sell any mortgage or other obligation held by
it, at public or private sale, with or without public bidding,
including the sale of such obligations and commitments to the
solar energy and energy conservation bank pursuant to Title V of
the Energy Security Act, P.L. 96-294.

266DD-6.

(a) The Administration shall have the power and authority
to meet any development cost OR TO CARRY OUT ANY OTHER OF ITS
PURPOSES through the expenditure of funds appropriated by the
legislature; through the expenditure of the proceeds of any State
loan to the extent provided by the legislature or any agency or
authority authorized to issue bonds therefor; through the
issuance of bonds, notes, or other evidences of indebtedness for
that purpose, payable solely from revenues of the Administration
as provided in this section; and from any other funds which may
be made available to the Administration for the purposes of
community development under this subheading from its own
operations or from any other source or sources, public or
private.