<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="10-879" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="8" subtitle_name="Maryland Clean Energy Center">
  <level label="a">
    <text>The Center may use the Fund to enhance the credit of a financing offered by a bank or other financial institution for a project.</text>
  </level>
  <level label="b">
    <text>A credit enhancement issued in accordance with subsection (a) of this section shall:</text>
    <level label="1">
      <text>carry out the purpose of the Program in a manner the Center considers appropriate;</text>
    </level>
    <level label="2">
      <text>facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and</text>
    </level>
    <level label="3">
      <text>be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is:</text>
      <level label="i">
        <text>incorporated in the State; or</text>
      </level>
      <level label="ii">
        <text>registered to do business in the State.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The Center may assess a reasonable fee to a participating bank or financial institution for the administration of this section.</text>
  </level>
</section>
