Ch. 519

1995 LAWS OF MARYLAND

(3) MAY INCLUDE NONRESIDENTIAL FACILITIES THAT SERVICE THE
NEEDS OF PERSONS WITH SPECIAL NEEDS WHO DO NOT NECESSARILY NEED TO BE
RESIDENTS OF THE SPECIAL HOUSING FACILITY.

3-205.

(a)     The Department shall promulgate such eligibility standards for insurance and
other forms of credit enhancement to be offered as are reasonable to provide that the
insurance and credit enhancements shall aid in:

(1)     The financing of the purchase, construction, or rehabilitation of:
(i) Housing projects;

(II) SPECIAL HOUSING FACILITY PROJECTS;
[(ii)](III) Rehabilitation projects;
[(iii)] (IV) Energy conservation projects;
[(iv)] (V) Solar energy projects;
[(v)] (VI) Public purpose projects; or
[(vi)] (VII) Infrastructure projects; and

(2)     The sale or other transfer of an obligation, whether denoted as bond,
note, collateralized obligation, grantor trust, conduit, or any other form of security or
obligation however denoted, backed directly or indirectly by mortgages or payments
derived from mortgages.

(b)     These standards shall also assure that any lender benefitting from insurance
or other credit enhancement provided by the Department for a loan made by that lender
is responsible and able to service the loan properly.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.

Approved May 25, 1995.

CHAPTER 519
(Senate Bill 379)

AN ACT concerning

Municipal Corporations - Express Powers - Eminent Domain - Development or

Redevelopment

FOR the purpose of expanding the express powers of the of certain municipal
corporations in the State to include the power to acquire land or property for
development or redevelopment and to dispose of the land or property under certain

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