48

LAWS OF MARYLAND

Ch. 5

[(i)] A. Eligibility and application
requirements;

[(ii)] B. Interest rates, maximum loan
amounts, and the terms of loans;

[(iii)] C. Allocations of funds among
classes of eligible buildings;

[(iv)] D. Credit and underwriting
requirements; and

[(v)] E. Warranties, representations,
forms of security, certifications, inspections and audits, and
any other means of ensuring compliance with and enforcing the
terms of any financial assistance awarded under this subheading.

(18) [(a)] (I) Make, purchase, and participate in
making loans for any infrastructure project or to purchase any
local obligations issued to finance any infrastructure project or
to provide any other form of financial assistance that the
Administration may deem appropriate for the financing of
infrastructure projects, except grants. The making, purchasing,
or participating in making loans, the purchase of any local
obligations, or the providing of any other financial assistance
shall be evidenced by an agreement or other instrument indicating
the terms and conditions necessary to secure repayment to the
Administration of any moneys provided by the Administration, any
interest charged by the Administration, and any other charges in
connection with such financial assistance. Subject to the
provisions of any contract with holders of the Administration's
bonds, notes, or other obligations, the Administration may
consent to the modification, with respect to rate of interest,
time of payment of any installment of principal or interest,
security, or any other term of any loan, local obligation,
commitment, contract, instrument, or agreement of any kind to
which the Administration is a party or which the Administration
has acquired. In connection with any security received by or
owned by the Administration (including any local obligations),
the Administration may commence any action to protect or enforce
the rights conferred upon it by any law or agreement or acquire
or take possession of such security, and in such events, the
Administration may administer, pay the principal of or interest
on any obligation incurred in connection with the security,
dispose of and otherwise deal with the security in a manner that
the Administration considers necessary or desirable to protect
its interests. The Administration may sell any loan, agreement,
local obligation, or other obligation held by it at public or
private sale with or without public bidding.

[(b)] (II) In the case of the purchase of local
obligations, the procedures and requirements for the issuance or
sale of such local obligations shall apply, except that,
notwithstanding any other provision of public general or public
local law, charter, or ordinance, any issuer of local obligations