§ 2-802. Grants from Maryland Stadium Authority Facilities Fund
West's Annotated Code of MarylandTransportationEffective: July 1, 2023
Effective: July 1, 2023
MD Code, Transportation, § 2-802
§ 2-802. Grants from Maryland Stadium Authority Facilities Fund
(b)(1) Subject to paragraph (2) of this subsection, if a deposit or payment is made in accordance with § 9-120(b)(1)(i)2 through 5 of the State Government Article into the Maryland Stadium Authority Facilities Fund established under § 7-312 of the State Finance and Procurement Article, and there is only one eligible grantee, then the Department shall award a grant to the eligible grantee equal to the amount distributed to the Department under § 9-120(b)(1)(xi) of the State Government Article.
(iii) If Montgomery County is not an eligible grantee, and more than one county or municipal corporation are eligible grantees, then the Department shall distribute the total amount of the deposit payment under § 9-120(b)(1)(xi) of the State Government Article to the eligible grantees based on each eligible grantee's pro rata share of the statewide population.
(ii) If an eligible grantee uses funds under this section for the payment of debt service on bonds issued to finance bus rapid transit system projects, the eligible grantee shall issue bonds in accordance with an ordinance or resolution which may specify all matters relating to the advertisement, sale, issuance, delivery, and payment of the bonds, including:
Credits
Added by Acts 2022, c. 61, § 2, eff. June 1, 2022. Amended by Acts 2023, c. 112, § 1, eff. July 1, 2023.
MD Code, Transportation, § 2-802, MD TRANS § 2-802
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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