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Session Laws, 1987
Volume 769, Page 160   View pdf image
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Ch. 11                                    LAWS OF MARYLAND

partnership, association, person, or other legal entity is
obligated to pay to the Authority or its designee a sum to
provide for the payment of (i) the interest upon the bonds sold
pursuant to the provisions of this subtitle as the interest falls
due, (ii) the principal of the bonds as it falls due, (iii) the
necessary fiscal agency charges for paying principal and interest
and any charges or fees fixed by the Authority for its
administrative costs and expenses, and (iv) any premium upon
bonds retired by call or purchased as provided in this subtitle.
In addition, the legal entity shall pay to the State of Maryland,
or any of its political subdivisions, the amount of State and
local property taxes as the same accrue from the time of the
transfer of the property to such legal entity;

(8)  Assist wholesale food dealers and tenants who
wish to relocate their operations to the market or who, wish to
locate their operations in the' market or the park. In
furtherance of such power, the Authority may acquire, by
negotiation and purchase, the land, buildings, structures,
facilities, equipment, leases, or any interest therein, and may
pay all or a part of reasonable moving expenses for personal
property necessary to be moved in the relocation or location of
those dealers and tenants who, in the best judgment of the
Authority, afford the greatest opportunity of success for the
market or the park, and which expenses of acquisition, location,
or relocation the Authority, in the responsible exercise of its
discretion, believes it has the most favorable opportunity of
regaining;

(9)  Appoint and dismiss officers, agents and
employees, including, but not limited to, engineering,
architectural, fiscal, and construction experts and attorneys,
and fix their compensation;

(10)  Borrow money for any of. its corporate purposes
including the power to mortgage or further encumber its property
as security for such loan and issue negotiable bonds as
hereinafter provided in this subtitle; all money and funds of the
Authority may be invested; all interest earned and all other
income from any investments shall be credited to the Authority;

(11)  Receive appropriate gifts, contributions of
money, supplies, goods, and services, or loans thereof, and may
accept appropriations, allotments, and loans of funds from the
State of Maryland, the United States of America, any federal
corporation or agency and any municipal corporation or political
subdivision of the State of, Maryland; but the bonds of the
Authority shall be a primary lien upon the revenues of the
Authority, and any loan or appropriation from the federal, State
or municipal government shall be secondary;                                           

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Session Laws, 1987
Volume 769, Page 160   View pdf image
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