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<section article="gec" article_name="Economic Development" number="10-349" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="3" subtitle_name="Maryland Health and Higher Educational Facilities Authority">
  <level label="a">
    <text>The Authority may issue bonds to finance or otherwise provide for the payment of public obligations or closure costs of a hospital in accordance with a plan developed under § 10-348 of this subtitle.</text>
  </level>
  <level label="b">
    <text>The bonds issued under subsection (a) of this section shall:</text>
    <level label="1">
      <text>be payable from the fees provided under § 10-350 of this subtitle or from other sources provided in the plan;</text>
    </level>
    <level label="2">
      <text>be authorized, sold, executed, and delivered in accordance with this subtitle; and</text>
    </level>
    <level label="3">
      <text>have terms consistent with constitutional and other legal requirements.</text>
    </level>
  </level>
  <level label="c">
    <text>In connection with the issuance of any bond, the Authority may assign its rights under a loan, lease, or other financing agreement between the Authority or any other issuer of a public obligation and the closed or delicensed hospital to the State or a State unit in consideration for the payment of a public obligation as provided in this part.</text>
  </level>
</section>
