WILLIAM DONALD SCHAEFER, Governor                        Ch. 6

Error: Punctuation omitted in § 13-502 of the
Financial Institutions Article.

Occurred: Ch. 145, Acts of 1987.

13-508.

(a) The Administration shall review applications for loans
submitted by private or nonprofit sponsors, counties,
municipalities, or local housing agencies established under
Article 44A of the Code on behalf of sponsors of proposed new
construction[,] OR substantial rehabilitation OF, or conversion
[for] FOR, elderly rental housing.

DRAFTER'S NOTE:

Error: Lack of clarity and punctuation omitted in §
13-508(a) of the Financial Institutions Article.

Occurred: Ch. 145, Acts of 1987.

13-712.1.

The Authority may not close on the sale of bonds to finance
any segment of the facility unless the Authority:

(1)  Has certified to the Legislative Policy Committee
and the Board of Public Works that the Authority has
endeavored[,] to maximize private investment in the facility
proposed to be financed and to maximize the State's ability to
assure that the professional baseball and football franchises
will remain permanently in Maryland. This certification shall be
supported by a detailed report outlining these efforts;

(2)  Has provided to the fiscal committees of the
General Assembly, at least 30 days prior to seeking approval of
the Board of Public Works for each bond issue, a comprehensive
financing plan for the relevant segment of the facility and the
effect of this financing plan on financing options for other
segments of the facility, including anticipated revenues from
private investment where applicable;

(3)  Has obtained the approval of the Board of Public
Works of the proposed bond issue and the plan for financing; and

(4)  Has secured, as approved by the Board of Public
Works, either:

(i) With respect to site acquisition and the
construction of a baseball stadium, a long-term lease for a major
league professional baseball team; or

(ii) With respect to site acquisition and the

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