Ch. 120                                    1995 LAWS OF MARYLAND

(1)     The Maryland Small Business Development Financing Authority created
[by Title 13, Subtitle 2 of the Financial Institutions Article] PURSUANT TO SUBTITLE 10
OF THIS TITLE; and

(2)     The Enterprise Fund created pursuant to [§ 1-205.1 of this article]
SUBTITLE 5 OF THIS TITLE.

Subtitle [1.] 2. Maryland Economic Development Corporation.
[5-101.] 5-201.

(a)     In this subtitle, the following words have the meanings indicated.

(b)     "Bonds" means all bonds and notes of the Corporation, including bond
anticipation notes, revenue anticipation notes, grant anticipation notes, refunding bonds,
notes in the nature of commercial paper, or other evidences of indebtedness of the
Corporation, whether general or limited obligations of the Corporation issued under this
subtitle.

(c)     "Corporation" means the Maryland Economic Development Corporation.

(d)     "Cost" shall include the purchase price of any project or the cost of acquiring
all or any portion of the right, title, or interest of a project and the amount to be paid to
discharge all obligations necessary or desirable to vest title to the project or any part of it
in the Corporation or other owner; the cost of any reconstruction, extension,
enlargement, alteration, repair, or improvement; the cost of all lands, properties, rights,
easements, franchises, and permits; the cost of all labor, machinery, and equipment;
financing charges; interest before and during construction and, if deemed desirable by the
Corporation, for a limited period after the completion of construction; reserves for
principal and interest and for extensions, enlargements, additions, and improvements; the
cost of revenue estimates, engineering, and legal services, plans, designs, specifications.
surveys, investigations, demonstrations, studies, estimates of cost, other expenses
necessary or incident to determining the feasibility or practicability of any such
acquisition, improvement, repair, or construction; administrative expenses, and other
expenses as necessary or incident to project financings, and to the acquisition, operation,
maintenance, improvement, and construction of a project and the placing of the same in
operation by the Corporation or other owner, including reasonable provision for working
capital.

(e)     "Includes or including" means includes or including by way of illustration and
not by way of limitation.

(f)      "Person" means any natural person, corporation, firm, partnership.
cooperative, political subdivision, or other entity.

(g)     "Political subdivision" means any county, municipal corporation, State or local
agency, or other public body or agency created or established under State or local law.

(h) "Project" means the establishment of economic activity on properties
conveyed to the Corporation under Section [5-113] 5-213 of this subtitle and includes
those facilities and properties used or useful in connection with manufacturing, retail,

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