§ 10-204. Legislative intent
West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008
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 2. Maryland Food Center Authority (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 10-204
§ 10-204. Legislative intent
(a) The General Assembly finds that:
(iv) the scattered locations of and difficulty of access to wholesale markets constitute an economic loss, and the obsolescence of markets is responsible for much of the high cost of food handling and for deterioration that takes place both in the wholesale markets and between the markets and the consumer's doorstep;
(vi) there is a need for a consolidated wholesale food market in the State, and, in spite of this need, efforts on the part of the State, the City of Baltimore, the wholesale food trade, growers, and the transportation industry have failed to effect the consolidation of wholesale markets satisfactorily;
(ii) the financial systems of the political subdivisions of the State are not designed to undertake projects described under item (i) of this item on a nonprofit, self-liquidating basis, and the best method of creating a market is to establish and authorize a market authority as a public corporation to:
(b) The General Assembly finds that it is desirable that, when sufficient revenue will be derived from the operation of a project or development to amortize its cost within a reasonable period, the cost be defrayed if practicable by issuing bonds or other debt instruments payable from the revenue derived from project operations.
Credits
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.
MD Code, Economic Development, § 10-204, MD ECON DEV § 10-204
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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