ROBERT L. EHRLICH, JR., Governor

COMMERCIAL PAPER, OR OTHER OBLIGATION OR EVIDENCE OF INDEBTEDNESS
AUTHORIZED TO BE ISSUED BY THE CORPORATION UNDER THIS SUBTITLE.

(F)     "CORPORATION" MEANS THE MARYLAND AGRICULTURAL AND
RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION ESTABLISHED UNDER
THIS SUBTITLE.

(G)    "LENDING INSTITUTION" MEANS A BANK, BANK OR TRUST COMPANY,
FEDERAL LAND BANK, FARM CREDIT ASSOCIATION, BANK FOR COOPERATIVES,
BUILDING AND LOAN ASSOCIATION, HOMESTEAD, INSURANCE COMPANY,
INVESTMENT BANKER, MORTGAGE BANKER OR COMPANY, PENSION OR RETIREMENT
FUND, SAVINGS BANK OR SAVINGS AND LOAN ASSOCIATION, SMALL BUSINESS
INVESTMENT COMPANY, CREDIT UNION, OR ANY OTHER FINANCIAL INSTITUTION
AUTHORIZED TO DO BUSINESS IN THE STATE OR OPERATING UNDER THE
SUPERVISION OF A FEDERAL UNIT.

(H) (1) "PERSON" MEANS AN INDIVIDUAL, RECEIVER, TRUSTEE, GUARDIAN,
PERSONAL REPRESENTATIVE, FIDUCIARY, REPRESENTATIVE OF ANY KIND,
PARTNERSHIP, FIRM, ASSOCIATION, CORPORATION, OR OTHER ENTITY.

(2) "PERSON" INCLUDES A UNIT OF A STATE OR OF THE FEDERAL
GOVERNMENT.

(I) (1) "PROJECT" MEANS A PROPERTY, THE ACQUISITION, CONSTRUCTION,
RECONSTRUCTION, EQUIPPING, EXPANSION, EXTENSION, IMPROVEMENT,
REHABILITATION, OR REMODELING OF WHICH THE BOARD, IN ITS SOLE AND
ABSOLUTE DISCRETION, DETERMINES BY RESOLUTION WILL ACCOMPLISH AT LEAST
ONE OF THE PURPOSES LISTED IN §§ 13-501 AND 13-503 OF THIS SUBTITLE, WHETHER
THE PROPERTY, OR ANY INTEREST IN THE PROPERTY:

(I) IS OR WILL BE USED OR OPERATED FOR PROFIT OR NOT FOR

PROFIT;

(II)     IS OR WILL BE LOCATED ON A SINGLE SITE OR MULTIPLE SITES;
OR

(III)   MAY BE FINANCED BY BONDS, THE INTEREST ON WHICH IS
EXEMPT FROM FEDERAL INCOME TAXATION UNDER FEDERAL LAW.

(2) "PROJECT" INCLUDES:

(I)      LAND OR ANY INTEREST IN LAND;

(II)     BUILDINGS, STRUCTURES, MACHINERY, EQUIPMENT,
FURNISHINGS, RAIL OR MOTOR VEHICLES, BARGES, AND BOATS;

(III)   REAL OR PERSONAL PROPERTY, OR ANY COMBINATION OF
THEM, AND RIGHTS RELATED TO THE PROPERTY, APPURTENANCES, RIGHTS-OF-WAY,
FRANCHISES, EASEMENTS, AND OTHER INTERESTS IN LAND;

(IV)    LAND AND FACILITIES FUNCTIONALLY RELATED AND
SUBORDINATE TO THE PROJECT; AND

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Ch. 467