§ 10-125. Project financing

   (a) Loans. -- The Corporation may:

   (1) lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and

   (2) enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.

(b) Leases. --

   (1) The lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the property for consideration that the Corporation establishes, when:

      (i) the principal of and interest on the bonds that financed the cost of the project are paid; or

      (ii) provision satisfactory to the Corporation is made for their payment.

   (2) Consideration required under paragraph (1) of this subsection may be nominal.

HISTORY: An. Code 1957, art. 83A, § 5-206(k); 2008, ch. 306, § 2.