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<section article="gec" article_name="Economic Development" number="10-125" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="1" subtitle_name="Maryland Economic Development Corporation">
  <level label="a">
    <text>The Corporation may:</text>
    <level label="1">
      <text>lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and</text>
    </level>
    <level label="2">
      <text>enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>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:</text>
      <level label="i">
        <text>the principal of and interest on the bonds that financed the cost of the project are paid; or</text>
      </level>
      <level label="ii">
        <text>provision satisfactory to the Corporation is made for their payment.</text>
      </level>
    </level>
    <level label="2">
      <text>Consideration required under paragraph (1) of this subsection may be nominal.</text>
    </level>
  </level>
</section>
