§ 10-348. Payment schedule; plan

   (a) Public obligations -- Schedule of payments. -- Within 60 days after receiving the statement required by § 10-346 of this subtitle, the Authority shall prepare a schedule of payments necessary to meet the public obligations of the hospital.

(b) Public obligations -- Proposed plan to finance or provide for payment. --

   (1) As soon as practicable after receiving a notice of closure or delicensure, required by § 10-344(a)(1)(i) or (b) of this subtitle, and after consulting with the issuer of each public obligation and the Health Services Cost Review Commission, the Authority shall prepare a proposed plan to finance or otherwise provide for the payment of public obligations.

   (2) The proposed plan may include a tender, redemption, advance refunding, or other technique that the Authority considers appropriate.

(c) Closure costs -- Proposed plan to finance or provide for payment. -- As soon as practicable after receiving notification that the Health Services Cost Review Commission has determined to provide for the payment of closure costs of a hospital under § 10-347 of this subtitle, the Authority shall prepare a proposed plan to finance or provide for the payment of closure costs stated in the notice.

(d) Anticipated development of plan. -- On request of the Health Services Cost Review Commission, the Authority may begin preparing the plan required by this section before the Authority receives notice under § 10-344(a)(1)(i) or (b) of this subtitle.

(e) Submission of plan and payment schedule. -- The Authority shall promptly submit the schedule of payments and the proposed plan required by this section to the Health Services Cost Review Commission.

HISTORY: An. Code 1957, art. 43C, § 16A(i); 2008, ch. 306, § 2.