§ 10-641. Hippodrome Performing Arts facility
West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2013
West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 6. Maryland Stadium Authority (Refs & Annos)
Part V. Restrictions on Bonds and Borrowing (Refs & Annos)
Effective: June 1, 2013
MD Code, Economic Development, § 10-641
§ 10-641. Hippodrome Performing Arts facility
(a) Except as allowed by § 10-639 of this subtitle, to finance site acquisition and construction of any segment of a Hippodrome Performing Arts facility, the Authority shall comply with this section.
(b) The Authority shall provide certification to the Legislative Policy Committee and the Board of Public Works, supported by a detailed report, that the Authority has attempted to maximize private investment in the Hippodrome Performing Arts facility proposed to be financed.
(c) The Authority shall provide to the fiscal committees of the General Assembly, at least 45 days before seeking approval of the Board of Public Works for each bond issue or other borrowing, a comprehensive financing plan for the relevant segment of the facility, including the effect of the financing plan on financing options for other segments of the facility and anticipated revenues from private investment.
(d) The Authority shall obtain the approval of the Board of Public Works of the proposed bond issue and the financing plan.
(e) The Authority shall secure one or more written agreements, as approved by the Board of Public Works:
(f) The Authority shall secure a written agreement with the University System of Maryland, as approved by the Board of Public Works, under which the University System of Maryland agrees to transfer to the Authority fee title to the property known as the Hippodrome Theatre, 12 North Eutaw Street, described in the Baltimore City land records in Liber S.E.B. 6259, Folio 38.
(g) The Authority shall secure a written agreement with an Authority affiliate, as approved by the Board of Public Works, by which the Authority affiliate agrees:
Credits
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2010, c. 483, § 14, eff. June 1, 2010; Acts 2013, c. 424, § 19, eff. June 1, 2013.
MD Code, Economic Development, § 10-641, MD ECON DEV § 10-641
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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