Maryland Governor - Executive and Administrative Departments Section 14-101

      (a)      In this subtitle, the following words have the meanings indicated.

      (b)      "Acquisition" means the acquisition, construction, reconstruction, equipping, expansion, extension, improvement, rehabilitation, or remodeling of 1 or more facilities.

      (c)      "Authority" means an industrial development authority created under § 14-103 of this subtitle. As used in this subtitle, authority does not include the Maryland Industrial Development Financing Authority.

      (d)      "Bonds" means revenue bonds or notes including, without limitation, bond anticipation notes and notes in the nature of commercial paper or other instruments, certificates, or evidences of obligation issued and sold by any public body pursuant to this subtitle to finance or refinance 1 or more facilities or to refund outstanding bonds.

      (e)      "Chief executive officer" means the president, chairman, mayor, county executive, or other chief executive officer of a public body, if any, however designated, whether elected to the office or acting as such under law.

      (f)      "County" means any of the 23 counties of Maryland, and the Mayor and City Council of Baltimore.

      (g)      "Facility" or "facilities" means any land or interest in land, buildings, structures, working capital not exceeding 25% of the bonds if the bonds issued to finance the acquisition of the working capital are secured by a letter of credit or an interest in property, machinery, equipment, furnishings, or other real or personal property or interest in them, or any combination of them, the acquisition of which the legislative body of a municipality or county, the board of directors of an authority, or the Maryland Industrial Development Financing Authority, in its sole and absolute discretion, finds and determines by resolution will accomplish 1 or more of the legislative purposes set forth in § 14-102 of this subtitle, including, without limitation, that or those which may be financed from the proceeds of the issuance and sale of bonds the interest on which is exempt from federal income taxation under the provisions of § 103 of the federal Internal Revenue Code or any other federal statute hereafter enacted. A facility does not constitute a capital project of any public body within the meaning of any statutory or charter provision.

      (h)      "Facility applicant" means any individual, public or private corporation, partnership, association, firm, or other entity, whether or not created for the purpose of making a profit, which, pursuant to a letter of intent or similar agreement with a public body, requests a public body to participate in the financing of 1 or more facilities in the manner provided in this subtitle for use by 1 or more facility users.

      (i)      "Facility user" means any individual, public or private corporation, partnership, association, firm, or other entity, whether or not created for the purpose of making a profit, which owns, leases, or uses all or any part of a facility, and may include a facility applicant.

      (j)      "Finance board" means any board, agency, or instrumentality of a municipality or county, other than its legislative body, which is now or hereafter authorized by any statutory or charter provision to issue and sell bonds of the municipality or county.

      (k)      "Lease" means any lease agreement entered into between a public body and 1 or more facility users in connection with any bonds issued under this subtitle.

      (l)      "Loan agreement" means any loan agreement entered into between a public body and 1 or more facility users in connection with any bonds issued under this subtitle.

      (m)      "Municipality" means a municipal corporation subject to the provisions of Article XI-E of the Constitution.

      (n)      "Public body" means any county, municipality, authority, or the Maryland Industrial Development Financing Authority.

      (o)      "Public port" means the public ports and harbors on the Chesapeake or Isle of Wight Bays and their tributaries within the State, including, without limitation, Baltimore Harbor (the Patapsco River and its tributaries north and west of North Point and Bodkin Point), the Port of Cambridge (the south side of the Choptank River between Hambrook's Bar and the Emerson C. Harrington Bridge) and the Port of Crisfield (the Little Annemessex River east of James Island).

      (p)      "Sale agreement" means any installment sale agreement entered into between a public body and 1 or more facility users in connection with an issue of bonds under this subtitle.