HARRY HUGHES, Governor

2725

Section 11(g)

Annotated Code of Maryland

(1982 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 43C - Maryland Health and Higher Educational
Facilities Authority

11.

(G) (1) FOR EVERY ISSUE OF ITS BONDS OR NOTES, THE
AUTHORITY, BY RESOLUTION, SHALL:

(I)  SPECIFY AND DESCRIBE THE PROJECT OR
PROJECTS FOR WHICH THE PROCEEDS OF THE BOND OR NOTE ISSUANCE ARE
INTENDED;

(II)  GENERALLY DESCRIBE THE PUBLIC PURPOSE TO
BE SERVED AND THE FINANCING OR REFINANCING TRANSACTION TO BE
ACCOMPLISHED UNDER THIS ARTICLE;

(III)  SPECIFY THE MAXIMUM PRINCIPAL AMOUNT OF
THE BONDS OR NOTES THAT MAY BE ISSUED BY THE AUTHORITY; AND

(IV)  IMPOSE ANY TERMS OR CONDITIONS ON THE
ISSUANCE AND SALE OF THE BONDS OR NOTES THAT THE AUTHORITY DEEMS
APPROPRIATE.

(2)  (I) THE AUTHORITY MAY AUTHORIZE, BY RESOLUTION,
THE CHAIRMAN, VICE CHAIRMAN, ANY DESIGNATED MEMBER OF THE
AUTHORITY, OR ANY COMMITTEE OF DESIGNATED MEMBERS OF THE
AUTHORITY TO SPECIFY, PRESCRIBE, DETERMINE, PROVIDE FOR, OR
APPROVE SUCH MATTERS, DETAILS, FORMS, DOCUMENTS, OR PROCEDURES AS
THE AUTHORITY DEEMS APPROPRIATE TO THE AUTHORIZATION, SALE,
SECURITY, ISSUANCE, DELIVERY, OR PAYMENT OF OR FOR THE BONDS OR
NOTES, INCLUDING, WITHOUT LIMITATION, THE CREATION OF SECURITY
FOR THE BONDS OR NOTES AND PROVISION FOR THE ADMINISTRATION OF
BOND OR NOTE ISSUES.

(II) THE POWER GRANTED TO THE AUTHORITY IN ITEM
(I) OF THIS PARAGRAPH SHALL BE DEEMED TO PROVIDE ADDITIONAL,
ALTERNATIVE, AND SUPPLEMENTAL AUTHORITY AND SHALL BE REGARDED AS
SUPPLEMENTAL AND ADDITIONAL TO POWERS CONFERRED UPON THE
AUTHORITY BY THIS ARTICLE AND SHALL NOT BE REGARDED AS IN
DEROGATION OF OR AS A LIMITATION TO ANY POWER OF THE AUTHORITY
NOW EXISTING UNDER THIS ARTICLE.

(3)  (I) SUBJECT TO THE PROVISIONS OF ITEM (II) OF
THIS PARAGRAPH, THE AUTHORITY MAY AUTHORIZE THE EXECUTIVE
DIRECTOR TO ACCOMPLISH ANY OF THE ACTIONS DESCRIBED IN PARAGRAPH
(2)(I) OF THIS SUBSECTION.