S.B. 810                                                  VETOES

(a)     On application and upon complying with the requirements of [§ 5-404(a)] §
5-704(A) after investigation, the Secretary may approve a loan, not exceeding $50,000 and
on an equal matching basis with funds of the borrowing subdivision, for the purpose of
acquiring options to purchase prospective industrial land sites or industrial park sites.

(b)     On approval of a loan under this section, the Secretary and the borrowing
subdivision shall enter into a loan agreement requiring repayment within seven years at
an interest rate calculated pursuant to [§ 5-404(c)(2)(iii)] § 5-704(C)(2)(III) of this
subtitle, and in accordance with an amortization schedule approved by the Secretary. The
loan agreement may require repayment from the proceeds of any loan made under [§
5-404 or § 5-405] § 5-704 OR § 5-705 of this subtitle.

[5-408.] 5-709.

(a)     (1) In this section, the following words have the meanings indicated.

(2)     "Project" means an access road, a utility line or both an access road and
utility line that are located within a political subdivision and that directly serve an
industrial site.

(3)     "Project costs" may include the cost of planning and engineering,
engineering services, design services, other professional services, and the actual cost of
constructing, reconstructing, or improving a project.

(4)     (i) "Utility line" means any line, pipe, conduit, wire, cable, or any
other means of providing for drainage, sewage, gas, water, light, electric power, or for
providing for any other form of energy, signal or service.

(ii) "Utility line" includes any sanitary or storm sewer, drainage, gas or
water main, and any electric power or telephone line.

(b)     Subject to the provisions of this section, any political subdivision may apply for
and the Secretary may approve a loan to finance any portion of the project costs of an
access road, a utility line, or both.

(c)     (1) To apply for assistance, a political subdivision shall submit an
application to the Department.

(2)     In the manner and detail required by the Secretary, the application
shall:

(i) Explain the need for the project for which assistance is requested;
and

(ii) State the amount and type of assistance requested for the project.

(3)     The application also shall include a certification by the political
subdivision that the project for which assistance is requested would serve a
manufacturing, processing, or other industrial establishment that has been constructed or
will be constructed.

(d)     After receiving an application, the Secretary may conduct any investigation
and consultation he considers necessary to determine the merits of the application.

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