(ID ANY FACILITIES AND PROPERTIES SPECIFIED IN THIS
SUBSECTION, WHETHER. OR NOT THESE FACILITIES OR PROPERTIES CAN BE
FINANCED BY BONDS THE INTEREST ON WHICH IS TAX EXEMPT UNDER THE
INTERNAL REVENUE CODE.

(H) (1) "REVENUES" INCLUDES ALL INCOME, REVENUES, AND OTHER
MONEYS RECEIVED BY THE CORPORATION FROM OR IN CONNECTION WITH ANY
PROJECT.

(2) "REVENUES" INCLUDES GRANTS, RENTALS, RATES, FEES, CHARGES
FOR THE USE OF THE SERVICES FURNISHED OR AVAILABLE, AND ALL OTHER
INCOME INURING TO THE CORPORATION.

5-1302.

THE GENERAL ASSEMBLY FINDS THAT:

(1) THE ECONOMY OF CECIL COUNTY WAS GREATLY IMPACTED BY THE
CLOSURE OF THE BAINBRIDGE NAVAL TRAINING CENTER;

(2) WHILE THIS CLOSURE RESULTED IN ECONOMIC CONTRACTION AND
DISLOCATION, IT ALSO AFFORDS OPPORTUNITIES TO EXPAND PRODUCTIVE
EMPLOYMENT AND EXPAND THE ECONOMY AND TAX BASE OF THE STATE;

(3) THE ESTABLISHMENT OF A STATE PUBLIC CORPORATION TO
DEVELOP THE BAINBRIDGE NAVAL TRAINING CENTER WOULD SERVE THE PUBLIC
INTEREST AND COMPLEMENT EXISTING STATE MARKETING PROGRAMS
ADMINISTERED BY THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT
THROUGH ITS OFFICE OF BUSINESS DEVELOPMENT AND RESOURCES AND THROUGH
FINANCIAL ASSISTANCE PROGRAMS, SUCH AS THOSE OF THE MARYLAND
INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY, THE MARYLAND INDUSTRIAL
LAND ACT, AND THE MARYLAND INDUSTRIAL AND COMMERCIAL REDEVELOPMENT
FUND ACT; AND

(4) IN ACCORDANCE WITH THE PURPOSES OF THIS SUBTITLE, THE
CORPORATION SHOULD STRUCTURE ITS PROJECTS IN A MANNER THAT
ACCELERATES THE TRANSFER OF FACILITIES AND SITES INTO PRODUCTIVE USE IN
THE PRIVATE SECTOR AND COOPERATE WITH THE GOVERNING BODY OF CECIL
COUNTY IN MAXIMIZING NEW ECONOMIC OPPORTUNITIES FOR THE CITIZENS OF

5-1303. 5-1302.

(A) (1) THE CORPORATION IS A BODY POLITIC AND CORPORATE AND IS
CONSTITUTED AS A PUBLIC INSTRUMENTALITY OF THE STATE OF MARYLAND.

(2) THE EXERCISE BY THE CORPORATION OF THE POWERS CONFERRED
BY THIS SUBTITLE SHALL BE DEEMED TO BE THE PERFORMANCE OF AN ESSENTIAL
PUBLIC FUNCTION.