Section 13-1024 – Refunding Bonds
(a) The Authority may issue bonds to refund any of its bonds then outstanding, including the payment of any redemption premium and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase, or maturity of the bonds. (b) Refunding bonds may be issued: (1) (i) For the public purposes of realizing savings in […]
Section 13-1025 – Agreements to Enhance Marketability or to Provide Security; Investments in Bonds
(a) The Authority may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of, or as a security for, its bonds. (b) Any financial institution, investment company, insurance company or association, and any personal representative, guardian, trustee, or other fiduciary, may legally invest any money belonging to them or within […]
Section 13-1026 – Tax Exemption
The bonds of the Authority, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, are exempt at all times from every kind of taxation by this State or by any of its political subdivisions, municipal corporations, or public agencies.
Section 13-1027 – Additional Exemptions
The Authority is exempt: (1) From the payment of taxes or assessments of any kind; (2) Except as provided in Title 12, Subtitle 4 and Title 14, Subtitle 3 of the State Finance and Procurement Article, from the provisions of Division II of the State Finance and Procurement Article; and (3) From the provisions of Division I of […]
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 […]