Md. Code Regs. 05.09.01.03

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.09.01.03 - Definitions

A. The terms appearing in the Act have the meanings defined there and, in addition, the meanings used in these Regulations.

B. Terms Defined.

(1) "Act" means Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland, as amended.

(2) "Administration" means the Community Development Administration, an agency in the Division of Development Finance of the Department.

(3) "Application" means the form and its attachments submitted by a local government in order to participate in the program.

(4) Repealed.

(5) "Code" means the Internal Revenue Code of 1986, as amended, and the regulations promulgated pursuant to the Code. Except when inappropriate, any reference to the Internal Revenue Code of 1986 shall include a reference to the provisions of law formerly known as the Internal Revenue Code of 1954.

(6) "Committee" means the Housing Finance Review Committee.

(7) "Department" means the Department of Housing and Community Development, a principal department of the State of Maryland.

(8) "Indenture" means any trust indenture, bond resolution, certificate, or other similar document, including amendments and supplements that authorize the issuance and sale of bonds, notes, or other obligations of the Administration, the proceeds of which finance the loans.

(9) "Interagency Committee on Economic Growth, Resource Protection, and Planning" or "Interagency Committee" means the Interagency Economic Growth, Resource Protection, and Planning Committee established under Executive Order 01.01.1992.27C.

(10) "Loan" means any loan or other form of financial assistance provided by the Administration to a local government for the financing of a project, specifically excluding grants.

(11) "Local government" means any county in the State, the Mayor and City Council of the City of Baltimore, and any municipal corporation in the State subject to the provisions of Article XI-E of the Maryland Constitution.

(12) "Local obligation" means any bond, note, or other obligation, including a bond issued by the local government which is purchased by the Administration.

(13) "Program" or "infrastructure program" means the Administration's Local Government Infrastructure Financing Program.

(14) "Project" means an infrastructure project financed or refinanced by the Administration in accordance with the Act.

(15) "Secretary" means the Secretary of Housing and Community Development.

(16) "State Economic Growth, Resource Protection, and Planning Policy" or "State Growth Policy" means the State Economic Growth, Resource Protection, and Planning Policy established by State Finance and Procurement Article, § 5-7 A-01, Annotated Code of Maryland.

(17) "State highway user revenues" means those funds allocated to a county under Transportation Article, §§ 8-401 -8-413, Annotated Code of Maryland.

(18) "State payments" means moneys the local government is entitled to receive from the State, including, without limitations, the local government's share of the State income tax.

Md. Code Regs. 05.09.01.03

Regulations .03 amended effective November 22, 1993 (20:23 Md. R. 1801)
Regulation .03B amended effective September 6, 1999 (26:18 Md. R. 1374)