Section 13-1028 – Financial Assistance
For purposes of applying for, receiving, and entering into agreements in connection with loans, grants, insurance, or other forms of financial assistance, the Authority is a public body within the meaning of the Maryland Industrial Development Financing Authority Act.
Section 13-1029 – Activities Conducted by State Government That Affect Heritage Area
(a) Any unit of the State government that conducts or supports activities affecting the Heritage Area shall: (1) Consult, cooperate, and, to the maximum extent possible, coordinate its activities with the Authority; and (2) Conduct or support the activities of the unit in a manner that: (i) To the maximum extent practicable, is consistent with the management plan established […]
Section 13-1030 – Failure to Implement Provisions of Act
If the Board of Public Works finds that the Authority or the City of Cumberland has failed to make good faith efforts to implement any responsibility under this Act or a management plan for the Heritage Area, the Board may refuse to obligate, expend, or approve any financial commitment on behalf of the Authority.
Section 13-1031 – Short Title
This subtitle may be cited as the Canal Place Preservation and Development Authority Act.
Section 13-1016 – Management Plan Task Force
For the purpose of reviewing the development of the management plan for the Heritage Area, the Authority shall appoint a task force that includes: (1) Members of the General Assembly who reside in Allegany County; (2) A representative of each of: (i) The Board of County Commissioners of Allegany County; (ii) The Chesapeake and Ohio Canal National Historical Park […]
Section 13-1017 – Canal Place Preservation and Development Authority Financing Fund
(a) There is a Canal Place Preservation and Development Authority Financing Fund. (b) The Authority shall use the Fund as a continuing, nonlapsing, revolving fund for carrying out the purposes of this subtitle. No part of the Fund may revert or be credited to the General Fund or to any other special fund of the State. (c) The […]
Section 13-1018 – Bond Issues
(a) Subject to this part, the Authority may at any time and from time to time issue bonds for any corporate purpose, including the establishment of reserves and the payment of interest. (b) The Authority: (1) Shall by resolution authorize any bonds that it issues; and (2) May secure the bonds by a trust agreement between the Authority and […]
Section 13-1019 – Bonds Payable From Receipts of Authority
The bonds of any issue shall be payable solely from the property or receipts of the Authority, including, without limitation: (1) Fees, charges, or other revenues payable to the Authority; (2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements; (3) Investment earnings from funds or […]
Section 13-1020 – Requirements of Bonds Issued
The bonds that the Authority issues shall: (1) Be issued at, above, or below par value, for cash or other valuable consideration, and mature at a time or times, whether as serial bonds or as term bonds or both, not exceeding the maturity date established by the Authority; (2) Bear interest at the fixed or variable rate […]
Section 13-1021 – Resolutions or Trust Agreements
(a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1018(b) of this subtitle may contain provisions that: (1) Pledge, assign, or direct the use, investment, or disposition of all or a portion of the receipts of the Authority or all or a portion of the proceeds or benefits of any contract and […]