Section 4-251 – Bonds and Notes Not State Debts
(a) A bond or note issued under this part: (1) is not a debt of and does not pledge the faith, credit, or taxing power of the State, the Administration, or a political subdivision; but (2) is payable only from the revenues and property provided for in this subtitle. (b) Each bond or note shall state on its face […]
Section 4-252 – Tax-Exempt Status
The following are exempt at all times from taxation of every kind and nature whatsoever by the State, a political subdivision, or a governmental unit of any kind: (1) a bond or note that the Administration issues under this part; (2) the transfer of, interest payable on, or income derived from the bond or note; and (3) profit […]
Section 4-253 – Interest Rate Exchange Agreements
To improve the management of debt issued under the provisions of this part or to reduce the cost of servicing the debt, the Administration may enter into interest rate exchange agreements or contracts providing for payments based on levels of or changes in interest rates.
Section 4-255 – False Statements or Reports
(a) A person may not knowingly make or cause to be made a false statement or report in a document required to be submitted to the Administration by an agreement relating to a loan. (b) A person applying for a loan may not knowingly make or cause to be made a false statement or report to influence […]
Section 4-242 – Priority to Selling Residential Property Owned by Administration
In providing financial assistance to a homeowner that includes the purchase of the homeowner’s primary residence and payments on the homeowner’s student loan debt, the Administration shall give priority to selling residential property that is owned by the Administration.
Section 4-244 – Powers of Administration
(a) The Administration may provide financial assistance, meet any development cost, or carry out any other of its purposes by spending: (1) money appropriated by the General Assembly; (2) the proceeds of a State loan to the extent provided by the General Assembly or a governmental unit authorized to issue bonds; (3) the proceeds of the bonds, notes, or […]
Section 4-245 – Authority to Borrow Money and Issue Bonds or Notes
(a) (1) The Administration may: (i) borrow money and issue bonds or notes; and (ii) use the proceeds or the earnings from the investment of the proceeds to provide money to: 1. make, purchase, or participate in making mortgage loans or other loans; 2. purchase securities backed by mortgage loans or other loans; 3. purchase local obligations; 4. meet any development cost; or […]
Section 4-246 – Renewal and Refunding
(a) By written determination, the Administration may provide for the issuance of notes to renew its notes, and bonds to pay its notes or to fund or refund its bonds, whether or not the bonds to be refunded have matured, including the payment of any redemption premium and any interest accrued or to accrue on the […]
Section 4-232 – Authorization of Resolution or Ordinance
(a) (1) Each ordinance or resolution enacted under this section: (i) shall be adopted by the governing body of the issuer; (ii) shall be approved by the chief executive officer, if any, of the issuer; and (iii) shall have the force of law. (2) Except as provided in subsection (b) of this section, an ordinance, a resolution, or the question of […]
Section 4-247 – Trust Agreement
(a) (1) Bonds or notes that the Administration issues may be secured by a trust agreement between the Administration and a trustee that is in or out of the State. (2) A trustee shall be a trust company or a bank with trust powers. (b) A trust agreement or a determination authorizing the issuance of bonds or notes may […]