Ch. 737

1997 LAWS OF MARYLAND

OF COMMERCIAL PAPER, OR OTHER EVIDENCES OF INDEBTEDNESS ISSUED ON
BEHALF OF THE CORPORATION, WHETHER GENERAL OR LIMITED OBLIGATIONS OF
THE CORPORATION ISSUED UNDER THIS SUBTITLE.

(C) "CORPORATION" MEANS THE PENMAR 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, CONSTRUCTION, AND MARKETING 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) """" MEDCO" MEANS THE MARYLAND ECONOMIC DEVELOPMENT CORPORATION
ESTABLISHED UNDER § 5-203 OF THIS ARTICLE.

(G) "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) (1) "PROJECT" MEANS THE ESTABLISHMENT OF ECONOMIC ACTIVITY
ON THE PROPERTY THAT IS CURRENTLY FORT RITCHIE, MARYLAND, TO BE
CONVEYED TO THE CORPORATION BY THE U.S. ARMY AND INCLUDES THOSE
FACILITIES AND PROPERTIES USED OR USEFUL IN CONNECTION WITH
MANUFACTURING, RETAIL TRADE SERVICE INDUSTRIES, SUPPLY, WHOLESALING,
WAREHOUSING, OR ANY OTHER INDUSTRIAL COMMERCIAL, OR BUSINESS
PURPOSES, INCLUDING ANY COMBINATION OF THESE ACTIVITIES, WHETHER FOR
PROFIT OR NOT FOR PROFIT, AND WHETHER OR NOT ANY FACILITIES ARE LOCATED
ON A SINGLE SITE.]

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