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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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ECONOMIC DEVELOPMENT |
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DIVISION II. INDEPENDENT AND REGIONAL DEVELOPMENT UNITS AND RESOURCES |
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TITLE 10. STATEWIDE DEVELOPMENT RESOURCES AND REVENUE AUTHORITIES |
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SUBTITLE 3. MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY |
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PART II. MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY |
§ 10-314. Powers -- In general
Latest version.
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(a) In general. -- The Authority may:
(1) adopt bylaws for the conduct of its business;
(2) sue and be sued;
(3) adopt a seal;
(4) maintain an office at a place it designates;
(5) issue bonds in accordance with this subtitle;
(6) accept a grant, loan, or other assistance in any form from any public or private source, subject to the provisions of this subtitle;
(7) charge to and equitably allocate among participating institutions the administrative costs and expenses of carrying out this subtitle; and
(8) do all things necessary or convenient to carry out the powers expressly granted by this subtitle.
(b) Limitation. --
(1) A health care institution may not use any money received from a bond issued by the Authority to match any State loan or grant that is available for improvement of a health care institution.
(2) The Authority shall comply with the terms and conditions of assistance received in accordance with subsection (a)(6) of this section.
(c) Delegation. -- The Authority may delegate to a member or officer a power granted to the Authority by this subtitle, including the power to execute a bond, certificate, deed, lease, mortgage, agreement, or other document or instrument.