§ 10-519. Project financing

   (a) Loans. -- The Corporation may:

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

   (2) enter into a financing agreement, mortgage, or other instrument that it determines is necessary or desirable to evidence or secure the loan.

(b) Leases. --

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

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

      (ii) other provision for payment satisfactory to the Corporation.

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

HISTORY: An. Code 1957, art. 41, § 13-510(k); 2008, ch. 306, § 2.