{"data":{"id":"us-md/md.-code-local-government-1-1401","jurisdiction":"us-md","citation":"Md. Code, Local Government § 1–1401","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Authority” means a nonprofit or quasi–governmental entity created by\none or more local governments under § 1–1403 of this subtitle.\n(c) “Board” means the board of directors of an authority.\n(d) (1) “Bond” means a bond issued by an authority under this subtitle.\n(2) “Bond” includes a bond, a refunding bond, a note, and any other\nobligation.\n(e) “Cost” includes:\n(1) the purchase price of property;\n(2) the cost to acquire any right, title, or interest in property;\n(3) the cost of any improvements made to property;\n(4) the amount to be paid to discharge each obligation necessary or\ndesirable to vest title to any part of property in an authority or other owner;\n(5) the cost of any property, right, easement, franchise, or permit\nassociated with a project;\n(6) the cost of labor, machinery, and equipment necessary to\nimplement a project;\n(7) financing charges;\n(8) interest and reserves for principal and interest and for\nimprovements;\n(9) the cost of revenue and cost estimates, engineering and legal\nservices, plans, specifications, studies, surveys, and other expenses necessary or\nincident to determining the feasibility or practicability of a project;\n(10) administrative expenses; and\n(11) other expenses as necessary or incident to:\n(i) financing a project;\n(ii) acquiring and improving a project;\n(iii) placing a project in operation, including reasonable\nprovisions for working capital; and\n(iv) operating and maintaining a project.\n(f) “Local government” means a municipality or a county.\n(g) (1) “Project” means any organized plan carried out by an authority in\nrelation to:\n(i) acquiring and rehabilitating abandoned and dilapidated\nproperties; and\n(ii) marketing and leasing, selling, or otherwise transferring\nthe rehabilitated properties.\n(2) “Project” includes:\n(i) acquiring land or an interest in land;\n(ii) acquiring structures, equipment, and furnishings located\non a property;\n(iii) acquiring property that is functionally related and\nsubordinate to a project; and\n(iv) obtaining or contracting for any services necessary for the\nrehabilitation of a property.\n(h) (1) “Revenue” means the income, revenue, and other money an\nauthority receives from or in connection with a project and all other income of an\nauthority.\n(2) “Revenue” includes grants, rentals, rates, fees, and charges.\n(i) “Tax sale property” means property or an interest in property sold by\nthe tax collector of the county in accordance with Title 14, Subtitle 8, Part III of the\nTax – Property Article.\n(j) (1) “Trust agreement” means an agreement entered into by an\nauthority to secure a bond.\n(2) “Trust agreement” includes a bond contract, bond resolution, or\nother contract with or for the benefit of a bondholder.\n(k) “Water and sewer authority” means an authority established under\nTitle 9, Subtitle 9 of the Environment Article.\n(l) “Water and sewer lien” means a lien established under § 9–949 of the\nEnvironment Article.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=1-1401","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"d38cca35a9f2588468d87187d9e9e023c90096f0c210ba33af585ad3bfd29ef7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-1-1320","next":"us-md/md.-code-local-government-1-1402"},"notice":"GroundRules: Original legal text. Not legal advice."}