Ch. 311

LAWS OF MARYLAND

loan is made plus 1/8 of 1 percent for a loan made from proceeds
of a State general obligation bond issue.

(g) Any access road that is newly constructed under this
section, with right-of-way and design standards which meet the
criteria of the appropriate governmental jurisdiction, shall be
either a part of the road system of the political subdivision in
which it is located or of the secondary highway system of this
State, and thereafter, shall be maintained, reconstructed, and
relocated in the same manner as any other road in the system.

[12-409.] 5-409.

Notwithstanding any other provision of this subtitle, the
Secretary may approve loans in the following amounts for projects
within an enterprise zone designated under § [12-302] 5-302 of
this article:

(1)  For any loan to acquire land under § [12-404]
5-404, up to 100 percent of the current market value of the land,
as determined by him, but not exceeding $1,000,000 for any one
project;

(2)  For any loan to finance industrial park project
costs under § [12-405] 5-405, up to 50 percent of the anticipated
project costs, as determined by the Secretary, but not exceeding
$2,000,000 for any one project;

(3)  For any loan to finance project costs of a shell
building project under § [12-406] 5-406, all or any part of the
project costs, not to exceed $2,000,000;

(4)  For any loan for the purpose of acquiring options
to purchase prospective industrial land sites or industrial park
sites under § [12-407] 5-407, a loan not exceeding $100,000 and
on an equal matching basis with funds of the borrowing
subdivision.

[12-410. ] 5-410

A subdivision may delegate the planning and carrying out of
a project under §§ [12-404] 5-404, [12-405] 5-405, or [12-406]
5-406 to a local economic development agency, or in the case of a
county, to a municipal corporation located in the county.
However, the delegation does not relieve the subdivision of any
obligation incurred under any loan agreement executed pursuant to
this subtitle.

[12-411. ] 5-411.

A loan under this subtitle is a general obligation of the
borrowing subdivision, to the repayment of which the
subdivision's full faith and credit are pledged or an obligation

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