Ch. 544                                         1993 LAWS OF MARYLAND

13-1026. 13-1025.                                                                                                             

(A)     THE AUTHORITY MAY ENTER INTO AGREEMENTS WITH AGENTS, BANKS,
INSURERS, OR OTHERS FOR THE PURPOSE OF ENHANCING THE MARKETABILITY OF,
OR AS A SECURITY FOR, ITS BONDS.

(B)      ANY FINANCIAL INSTITUTION, INVESTMENT COMPANY, INSURANCE
COMPANY OR ASSOCIATION, AND ANY PERSONAL REPRESENTATIVE, GUARDIAN,
TRUSTEE, OR OTHER FIDUCIARY, MAY LEGALLY INVEST ANY MONEYS BELONGING
TO THEM OR WITHIN THEIR CONTROL IN ANY BONDS ISSUED BY THE AUTHORITY.

13-1027. 13-1026.

THE BONDS OF THE AUTHORITY, THEIR TRANSFER, THE INTEREST PAYABLE
ON THEM, AND ANY INCOME DERIVED FROM THEM, INCLUDING ANY PROFIT
REALIZED IN THEIR SALE OR EXCHANGE, ARE EXEMPT AT ALL TIMES FROM EVERY
KIND OF TAXATION BY THIS STATE OR BY ANY OF ITS POLITICAL SUBDIVISIONS,
MUNICIPAL CORPORATIONS, OR PUBLIC AGENCIES.

PART IV. MISCELLANEOUS PROVISIONS

13-1028. 13-1027.

THE AUTHORITY IS EXEMPT:

(1)       FROM THE PAYMENT OF TAXES OR ASSESSMENTS OF ANY KIND;

(2)      EXCEPT AS PROVIDED IN TITLE 14, SUBTITLE 3 OF THE STATE
FINANCE AND PROCUREMENT ARTICLE, FROM THE PROVISIONS OF DIVISION II OF
THE STATE FINANCE AND PROCUREMENT ARTICLE; AND

(3)      FROM THE PROVISIONS OF THE STATE PERSONNEL ARTICLE.
13-1029. 13-1028.

(A)     FOR PURPOSES OF APPLYING FOR, RECEIVING, AND ENTERING INTO
AGREEMENTS IN CONNECTION WITH LOANS, GRANTS, INSURANCE, OR OTHER
FORMS OF FINANCIAL ASSISTANCE, THE AUTHORITY IS:

(1) A PUBLIC BODY WITHIN THE MEANING OF THE MARYLAND
INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY ACT; AND

(2) A POLITICAL SUBDIVISION WITHIN THE MEANING OF THE
MARYLAND INDUSTRIAL LAND ACT AND THE MARYLAND INDUSTRIAL AND
COMMERCIAL REDEVELOPMENT FUND ACT.

(B)      ARTICLE 83A, §§ 5-411, 5-412, AND 5-503(C)(2)(IV) OF THE CODE DO NOT
APPLY TO THE AUTHORITY WHEN IT IS RECEIVING FINANCIAL ASSISTANCE
AUTHORIZED UNDER SUBSECTION (A) OF THIS SECTION.

13-1030. 13-1029.         

(A) ANY UNIT OF THE STATE GOVERNMENT THAT CONDUCTS OR SUPPORTS
ACTIVITIES AFFECTING THE PRESERVATION DISTRICT SHALL:

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