US Laws, Codes, Statutes & Cases

      (a)      This section applies to any lease or contract under which:

            (1)      The State or any agency of the State is to be an initial user or occupant of a facility financed by revenue bonds issued under this subtitle; or

            (2)      A facility financed by revenue bonds issued under this subtitle is to be built on State-owned property.

      (b)      A lease or contract which is subject to this subsection and which forms any part of the security for revenue bonds issued under this subtitle, may not be entered by the State or any agency of the State unless:

            (1)      The Legislative Policy Committee of the General Assembly has authorized the facility as consistent with the capital budget approved by the General Assembly; and

            (2)      The Board of Public Works has specifically approved the bond issue for that facility.