HARRY HUGHES, Governor

2645

THINGS OTHER THAN THOSE PROCEEDINGS, CONDITIONS, OR THINGS WHICH
ARE SPECIFIED AND REQUIRED BY THIS SUBTITLE.

(E) (1) BONDS ISSUED UNDER THIS SUBTITLE SHALL STATE ON THE
FACE OF EACH BOND THAT THEY REPRESENT AND CONSTITUTE AN
OBLIGATION OF THE AUTHORITY ONLY, AND DO NOT CONSTITUTE EITHER A
DEBT OF THE STATE OF MARYLAND OR OF ANY POLITICAL SUBDIVISION
THEREOF, INCLUDING THE COUNTY, WITHIN THE MEANING OF THE
PROVISIONS OF THE CONSTITUTION OR LAWS OF THE STATE OR THE
CHARTER OF THE COUNTY, OR A PLEDGE OF THE FAITH AND CREDIT OF THE
STATE OF MARYLAND OR OF ANY POLITICAL SUBDIVISION THEREOF,
INCLUDING THE COUNTY.

(2) THE BONDS MAY NOT GRANT TO THE OWNERS OR HOLDERS
ANY RIGHT TO HAVE THE AUTHORITY OR THE GENERAL ASSEMBLY OR THE
COUNCIL LEVY ANY TAXES OR APPROPRIATE ANY FUNDS FOR THE PAYMENT
OF PRINCIPAL OR INTEREST.

31-106.

(A) (1) IN ADDITION TO ANY OTHER POWERS GRANTED OR DUTIES
IMPOSED UPON IT, THE AUTHORITY SHALL:

(I) COORDINATE ACTIVITIES AND CONSULT WITH THE
MARYLAND HIGHER EDUCATION SUPPLEMENTAL LOAN AUTHORITY; AND

THIS SECTION.

(II) HAVE THE POWERS AND DUTIES SET FORTH IN

(2)   IN CONSULTATION WITH THE MARYLAND HIGHER
EDUCATION SUPPLEMENTAL LOAN AUTHORITY. THE AUTHORITY MAY ADOPT
ANY RULE OR REGULATION NECESSARY TO CARRY OUT ITS POWERS AND
DUTIES.

(3)  THE AUTHORITY MAY DELEGATE TO ONE OR MORE OF ITS
MEMBERS, OR TO ONE OR MORE OF ITS OFFICERS, AGENTS AND EMPLOYEES,
SUCH POWERS AND DUTIES AS IT MAY DEEM PROPER.

(B) THE AUTHORITY MAY:

(1)  ADOPT AN OFFICIAL SEAL;

(2)  MAINTAIN AN OFFICE AT THE PLACE OR PLACES IT MAY
DESIGNATE;

(3)  PARTICIPATE IN LEGAL PROCEEDINGS IN THE NAME OF
THE AUTHORITY; AND

IMPLEADED.

(4) SUE AND BE SUED IN ITS OWN NAME, PLEAD AND BE

(C) THE AUTHORITY MAY ESTABLISH CRITERIA FOR AND GUIDELINES
ENCOMPASSING THE TYPES OF AND QUALIFICATIONS FOR EDUCATION LOAN
FINANCING PROGRAMS WHICH SHALL INCLUDE THE CRITERIA FOR
DETERMINING WHETHER AN EDUCATIONAL INSTITUTION QUALIFIES AS AN