Maryland § 5-430
Full text of Maryland Maryland Code § 5-430, with citation guidance and answers to common questions.
§ 5-430.
(a) If the requirements of this section are satisfied, and subject to § 5-432 of this subtitle, the Authority may use the Fund to:
(1) insure the payment of any of the principal of, redemption or prepayment premiums or penalties on, and interest on:
(i) bonds; and
(ii) any instrument executed, obtained, or delivered in connection with the issuance and sale of bonds; and
(2) pay or insure the payment of fees or premiums for insurance, guarantees, or other credit support in connection with financial assistance under this subtitle.
(b) Based on factors it considers relevant, the Authority shall determine, in its sole discretion, that the economic impact of the transaction will be substantial.
(c) The Authority shall find:
(1) that the acquisition or improvement of a facility will not result in:
(i) the removal from one county to another county of the business operations of the facility user; or
(ii) the abandonment of a facility in the State; or
(2) if the acquisition or improvement will result in removal or abandonment, that the acquisition or improvement will:
(i) discourage the facility user from leaving the State; or
(ii) preserve the competitive position of the facility user in its industry.
(d) The Authority shall find that the Authority will not be required, except on default, to operate, service, or maintain the facility.
(e) The bonds or instruments shall be secured in a manner that the Authority approves.
(f) Financial assistance from the Fund provided under this section may not exceed an aggregate amount of $7,500,000 for a single facility.
Frequently Asked Questions About Maryland § 5-430
What does Maryland Code § 5-430 cover?
Section 5-430 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-430?
A common citation format is "Maryland Code § 5-430" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-430 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.