Ch. 667                                       LAWS OF MARYLAND

9-277.

(A)  WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS, THE
SECRETARY SHALL ADOPT REGULATIONS THAT ESTABLISH APPLICATION
PROCEDURES AND CRITERIA FOR THE AWARD OF FINANCIAL ASSISTANCE
UNDER § 9-275(B) § 9-275(2) OF THIS SUBTITLE.

(B)  THE CRITERIA SHALL PROVIDE THE BASIS FOR PROJECT
PRIORITY RANKINGS AND SHALL INCLUDE, AS APPROPRIATE:

(1) THE ENVIRONMENTAL OR PUBLIC HEALTH IMPACTS CAUSED
BY EXISTING CIRCUMSTANCES;

PROBLEM;

PROJECT;

(2)  PREVIOUS EFFORTS EXPENDED TO CORRECT ANY EXISTING

(3)  FINANCIAL CAPACITY OF THE APPLICANT;

(4)  THE PROBLEM PREVENTION ASPECTS OF A PROPOSED

(5)  COST EFFECTIVENESS OF A PROPOSED PROJECT;

(6)  PROVISIONS FOR MONITORING AND REVIEW;

(7)  THE CONTRIBUTION OF THE PROPOSED PROJECT TOWARD
MEETING STATE AND LOCAL SOLID WASTE PLANS AND GOALS; AND

(8)  MEASURES TO ASSURE ACCOUNTABILITY FOR ALL FUNDS
AWARDED UNDER § 9-275(B) § 9-275(2) OF THIS SUBTITLE.

9-278.

(A)  TO THE EXTENT NOT INCONSISTENT WITH THIS SUBTITLE, A
GRANT, OR LOAN, OR LOAN GUARANTEE AGREEMENT SHALL CONTAIN THOSE
CONDITIONS THAT THE SECRETARY REQUIRES BY REGULATION AND THAT THE
BOARD OF PUBLIC WORKS REQUIRES ON A SPECIFIC APPLICATION FOR
FINANCIAL ASSISTANCE IN ORDER TO ACHIEVE THE GOALS OF THIS
SUBTITLE AND TO OTHERWISE PROTECT THE INTERESTS OF THE STATE.

(B)  A STATE LOAN EXTENDED UNDER THIS SUBTITLE:

(1)  SHALL BEAR AT LEAST THE SAME RATE OF INTEREST AS
THE MOST RECENT STATE GENERAL OBLIGATION BOND SALE PRECEDING THE
DATE OF APPROVAL BY THE BOARD OF PUBLIC WORKS; AND

(2)  SHALL BE REPAID WITHIN 30 YEARS.

(C)  A LOAN GUARANTEE OF THE PRINCIPAL OF OR INTEREST ON ANY
COMMERCIAL LOAN OR OBLIGATION TO FINANCE THE ELIGIBLE COST OF A
PROJECT UNDER THIS SUBTITLE MAY ONLY BE MADE IF:

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