Md. Code Regs. 05.09.01.04

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

Section 05.09.01.04 - Eligible Participants

A local government is eligible to participate in the program provided it:

A. Possesses the legal capacity and all necessary legal authority to incur the obligations of the loan;

B. Submits an application to the Department which identifies how the local government will construct, operate, and maintain the project;

C. Is eligible to receive State payments in amounts satisfactory to the Administration, taking into consideration the amount of the loan;

D. Needs to finance or refinance the acquisition, construction, or rehabilitation of a project; and

E. Is acceptable to any entity which may be engaged to enhance the credit for a bond financing.

Md. Code Regs. 05.09.01.04

Regulations .04 amended effective November 22, 1993 (20:23 Md. R. 1801)
Regulation .04B amended effective September 6, 1999 (26:18 Md. R. 1374)