2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 10-348 - Payment schedule; plan

§10-348.

(a) Within 60 days after receiving the statement required by § 10-346 of this subtitle, the Authority shall prepare a schedule of payments necessary to meet the public obligations of the hospital.

(b) (1) As soon as practicable after receiving a notice of closure or delicensure, required by § 10-344(a)(1)(i) or (b) of this subtitle, and after consulting with the issuer of each public obligation and the Health Services Cost Review Commission, the Authority shall prepare a proposed plan to finance or otherwise provide for the payment of public obligations.

(2) The proposed plan may include a tender, redemption, advance refunding, or other technique that the Authority considers appropriate.

(c) As soon as practicable after receiving notification that the Health Services Cost Review Commission has determined to provide for the payment of closure costs of a hospital under § 10-347 of this subtitle, the Authority shall prepare a proposed plan to finance or provide for the payment of closure costs stated in the notice.

(d) On request of the Health Services Cost Review Commission, the Authority may begin preparing the plan required by this section before the Authority receives notice under § 10-344(a)(1)(i) or (b) of this subtitle.

(e) The Authority shall promptly submit the schedule of payments and the proposed plan required by this section to the Health Services Cost Review Commission.