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Ch. 635
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2007 Laws of Maryland
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(v) The acquisition of real property to be owned in fee simple by
the applicant if:
1. The real property is to be used in the operation of the
applicant's trade or business for which the loan and guarantee are sought; and
2. A lien is placed on the real property by the financial
institution or the Authority;
(4) The loan shall mature in not more than 10 years from the date of
closing of the loan; and
(5) The rate of interest on the loan is no greater than the rate of
interest determined by the Authority to be the monthly weighted average of the prime
lending rate, plus 2 percent, prevailing from time to time in the City of Baltimore on
unsecured commercial loans.
5-1035.
(a) Subject to the restrictions of this Part VI, the Authority, on application,
may guarantee any surety up to the lesser of 90 percent or [$1,350,000] $5,000,000 of
its losses incurred under a bid bond, a payment bond, or a performance bond on any
contract[, the majority of the funding for which is provided] FINANCED by the federal
government or a state government, a local [government] GOVERNMENT, A PRIVATE
ENTITY, or a utility regulated by the Public Service Commission.
(d) (1) The Authority may execute and perform bid, performance, and
payment bonds as a surety for the benefit of a principal in connection with any
contract[, the majority of the funding for which is provided] FINANCED by the federal
government or a state government, a local government, A PRIVATE ENTITY, or a
utility regulated by the Public Service Commission.
5-1046.
(a) Under the Program, the Authority may provide equity participation
financing, including the purchase of qualified securities issued by a franchise, by a
technology-based business, [or] by an enterprise acquiring an existing business, OR
BY ANY OTHER TYPE OF BUSINESS, only after the enterprise has submitted an
application that contains a business plan, including:
(1) A description of the franchisor, technology-based business, other
business, or existing business and its management, product, and market;
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- 4018 -
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