Md. Code, Local Government § 1–1401

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

(b) “Authority” means a nonprofit or quasi–governmental entity created by

one or more local governments under § 1–1403 of this subtitle.

(c) “Board” means the board of directors of an authority.

(d) (1) “Bond” means a bond issued by an authority under this subtitle.

(2) “Bond” includes a bond, a refunding bond, a note, and any other

obligation.

(e) “Cost” includes:

(1) the purchase price of property;

(2) the cost to acquire any right, title, or interest in property;

(3) the cost of any improvements made to property;

(4) the amount to be paid to discharge each obligation necessary or

desirable to vest title to any part of property in an authority or other owner;

(5) the cost of any property, right, easement, franchise, or permit

associated with a project;

(6) the cost of labor, machinery, and equipment necessary to

implement a project;

(7) financing charges;

(8) interest and reserves for principal and interest and for

improvements;

(9) the cost of revenue and cost estimates, engineering and legal

services, plans, specifications, studies, surveys, and other expenses necessary or

incident to determining the feasibility or practicability of a project;

(10) administrative expenses; and

(11) other expenses as necessary or incident to:

(i) financing a project;

(ii) acquiring and improving a project;

(iii) placing a project in operation, including reasonable

provisions for working capital; and

(iv) operating and maintaining a project.

(f) “Local government” means a municipality or a county.

(g) (1) “Project” means any organized plan carried out by an authority in

relation to:

(i) acquiring and rehabilitating abandoned and dilapidated

properties; and

(ii) marketing and leasing, selling, or otherwise transferring

the rehabilitated properties.

(2) “Project” includes:

(i) acquiring land or an interest in land;

(ii) acquiring structures, equipment, and furnishings located

on a property;

(iii) acquiring property that is functionally related and

subordinate to a project; and

(iv) obtaining or contracting for any services necessary for the

rehabilitation of a property.

(h) (1) “Revenue” means the income, revenue, and other money an

authority receives from or in connection with a project and all other income of an

authority.

(2) “Revenue” includes grants, rentals, rates, fees, and charges.

(i) “Tax sale property” means property or an interest in property sold by

the tax collector of the county in accordance with Title 14, Subtitle 8, Part III of the

Tax – Property Article.

(j) (1) “Trust agreement” means an agreement entered into by an

authority to secure a bond.

(2) “Trust agreement” includes a bond contract, bond resolution, or

other contract with or for the benefit of a bondholder.

(k) “Water and sewer authority” means an authority established under

Title 9, Subtitle 9 of the Environment Article.

(l) “Water and sewer lien” means a lien established under § 9–949 of the

Environment Article.