HARRY HUGHES, Governor

2641

LAND RECORDS OF WASHINGTON COUNTY IN LIBER 755, FOLIO 946,
INCLUDING ANY IMPROVEMENTS AND PERSONAL PROPERTY.

(B) THE BOARD OF PUBLIC WORKS MAY CONVEY TO THE CORPORATION

FOR ECONOMIC DEVELOPMENT PURPOSES ANY REAL PROPERTY AND

IMPROVEMENTS OWNED BY THE STATE WHICH HAVE BEEN DETERMINED TO BE
EXCESS PROPERTY UNDER ARTICLE 88C, § 12 OF THE CODE.

(B) WITH THE APPROVAL OF THE GOVERNING BODY OF EACH
POLITICAL SUBDIVISION IN WHICH THE PROJECT IS PROPOSED TO BE
LOCATED, THE BOARD OF PUBLIC WORKS MAY CONVEY TO THE CORPORATION
FOR ECONOMIC DEVELOPMENT PURPOSES ANY REAL PROPERTY AND
IMPROVEMENTS WHICH:

(1) HAVE BEEN TRANSFERRED TO THE STATE BY GIFT OR
OTHERWISE FOR SUBSTANTIALLY BELOW MARKET VALUE AS A VACANT OR
UNDERUTILIZED INDUSTRIAL FACILITY OR SITE;

(2) HAVE BEEN IN EXISTENCE IN MARYLAND FOR 10 YEARS
OR MORE; AND

(3) ARE NOT LESS THAN 10 ACRES.

(C) IF A TRANSFEROR OWNS ANY ADDITIONAL PROPERTY ADJOINING
THE FACILITY OR SITE, THE BOARD OF PUBLIC WORKS SHALL HAVE THE
FIRST OPTION TO PURCHASE THE ADJOINING PROPERTY AT A PRICE TO BE
ESTABLISHED AT THE TIME OF THE TRANSFER.

(C) (B) (D) PROPERTY CONVEYED UNDER THIS SECTION MAY BE
INSURED UNDER ARTICLE 95 OF THE CODE.

564.

(A)  EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, IN
EXERCISING ITS CORPORATE POWERS, THE CORPORATION IS EXEMPT FROM
THE PROVISIONS OF ARTICLES 15A; 21; 41; 76A, § 10; AND 78A OF THE
CODE AND MAY CARRY OUT ITS CORPORATE PURPOSES WITHOUT OBTAINING
THE CONSENT OF ANY DEPARTMENT, BOARD, OR AGENCY OF THE STATE.

(B)  THE CORPORATION AND ITS OFFICERS AND EMPLOYEES ARE
SUBJECT TO THE PUBLIC ETHICS LAW AND THE PUBLIC INFORMATION ACT.

(C) (1) FOR PURPOSES OF APPLYING FOR, RECEIVING, AND
ENTERING INTO AGREEMENTS IN CONNECTION WITH LOANS, GRANTS,
INSURANCE, OR OTHER FORMS OF FINANCIAL ASSISTANCE, THE
CORPORATION IS:

(I)  A PUBLIC BODY WITHIN THE MEANING OF THE
MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY ACT; AND

(II)  A POLITICAL SUBDIVISION WITHIN THE MEANING
OF THE MARYLAND INDUSTRIAL LAND ACT AND THE MARYLAND INDUSTRIAL
AND COMMERCIAL REDEVELOPMENT FUND ACT.