Md. Code, Financial Institutions, Title 13

in effect

Md. Code, Financial Institutions § 13-801

(a) In this subtitle the following words have the meanings indicated, unless otherwise required by the context. (b) “Bonds” means any bonds, notes, or other obligations of an issuer, the interest on which is exempt from federal taxation under the Code and the tax–exempt status of which is subject to the volume limitation established under § 146 of the Code. (c) “Code” means the Internal Revenue Code of 1986, as amended, and the applicable regulations thereunder. (d) “Community Development Administration” means that division of the Department of Housing and Community Development established under Title 4, Subtitle 2 of the Housing and Community Development Article. (e) “County” means any county in the State of Maryland and the City of Baltimore. (f) “Housing bonds” means any “qualified mortgage bonds” and bonds for any “qualified residential rental project” as those terms are defined in the Code. (g) “Issuer” means any State issuer or local issuer. (h) “Local issuer” means any county, municipality, or industrial development authority established under Title 12, Subtitle 1 of the Economic Development Article, or other agency with authority to issue bonds, other than a State issuer. (i) “Maryland State ceiling” means the volume limitation established pursuant to § 146 of the Code on the aggregate dollar amount of bonds that may be issued by State and local issuers in any calendar year. (j) “Minority business enterprise” means the minority business enterprises as defined in § 14–301 of the State Finance and Procurement Article. (k) “Municipality” means any municipal corporation subject to the provisions of Article XI–E of the Maryland Constitution. (l) “Secretary” means the Secretary of Commerce. (m) “Secretary’s reserve” means the allocation of the Maryland State ceiling initially made under § 13–802(4) of this subtitle and augmented under § 13–805 of this subtitle. (n) “State issuer” means the State of Maryland or any agency of the State of Maryland with authority to issue bonds.

Md. Code, Financial Institutions § 13-802

The Maryland State ceiling shall be initially allocated for the period from the first day of each calendar year through September 30 of the same year, as follows: (1) (i) There is allocated to the counties a total of 50 percent of the Maryland State ceiling, consisting of 35 percent of the Maryland State ceiling designated initially for the issuance of housing bonds and 15 percent of the Maryland State ceiling designated for the issuance of bonds other than housing bonds. (ii) The allocation to each county for housing bonds shall equal 35 percent of the Maryland State ceiling multiplied by a fraction, the numerator of which is the population of the county and the denominator of which is the population of the State of Maryland. (iii) The allocation to each county for bonds other than housing bonds shall be composed of: 1. A minimum allocation equal to 12 percent of the Maryland State ceiling multiplied by a fraction, the numerator of which is the population of the county and the denominator of which is the population of the State of Maryland; and 2. A bonus allocation equal to 3 percent of the Maryland State ceiling multiplied by a fraction, the numerator of which shall be the average issuance of bonds other than housing bonds by the county for the immediately preceding 3 calendar years, and the denominator of which shall be the average issuance of bonds other than housing bonds by all counties for the immediately preceding 3 calendar years. (iv) Any county may redesignate any portion of its housing bond allocation for the issuance of any other bonds for which an allocation is required under the Code if such redesignation is approved by the mayor, county executive, or board of county commissioners. Any transfer by a county of any portion of its housing bond allocation under this subtitle shall be conditioned upon its use by the transferee for housing bonds. (v) No portion of the allocation to each county for other than housing bonds may be used for the issuance of housing bonds. (2) (i) There is allocated to the Secretary for reallocation to municipalities 2.5 percent of the Maryland State ceiling. The Secretary shall process requests for allocations to municipalities in the order in which completed requests are received by the Secretary. (ii) A completed request from a municipality shall include: 1. Evidence that the municipality has complied with the requirements for public notice, public hearing, and public approval established by the Code; 2. A copy of a letter from bond counsel for such proposed issue to the effect that an allocation would be necessary in order to issue such bonds as tax exempt under the Code; and 3. Any other information as the Secretary may require. (iii) Any reservation of allocation pursuant to this paragraph shall remain effective until the earlier to occur of: 1. Receipt of notice to the Secretary from the municipality withdrawing its request for an allocation; 2. The end of the 60th calendar day following the date on which the reservation was made without the bonds having been issued, except that the Secretary, for good cause shown, may extend the expiration date for any such reservation of allocation; and 3. September 30 of the calendar year in which the reservation was issued without the bonds having been issued by such date. (iv) Upon the issuance of any bonds pursuant to a reservation of allocation which remains effective on the date of such issuance, the reservation shall automatically convert to an allocation under this section. (3) There is allocated to the Community Development Administration 25 percent of the Maryland State ceiling for the issuance of housing bonds. (4) (i) There is allocated to the Secretary for the Secretary’s reserve 22.5 percent of the Maryland State ceiling for use in accordance with this paragraph. The Secretary may at any time make any allocation of a portion of the Secretary’s reserve to any State issuer or local issuer in any amount and in any order that the Secretary, in the Secretary’s sole discretion, may determine will advance one or more of the goals described in subparagraph (iii) of this paragraph. (ii) In making allocations from the Secretary’s reserve, preference shall be given to projects of State issuers that advance one or more of the goals described in subparagraph (iii) of this paragraph. (iii) The goals to be advanced by the issuance of bonds requiring allocations under this paragraph are: 1. Increasing the supply, quality, and geographic distribution of housing for low–income persons; 2. Expanding opportunities for homeownership; 3. Creating significant job opportunities; 4. Locating job–creating facilities in enterprise zones or areas of high unemployment, urban redevelopment, or planned unit development; 5. Reducing, recycling, or treating solid or hazardous wastes; 6. Assisting in the expansion or modernization of existing Maryland industry and the attraction of new and diverse firms to Maryland; 7. Promoting the health, safety, education, or welfare of the citizens of Maryland; and 8. Providing opportunities for minority business enterprise as borrower, lessee, or contractor or subcontractor for construction, services, or supplies. (iv) Any application to the Secretary for an allocation from the Secretary’s reserve shall describe how the project to be funded by the issuance of the bonds would advance one or more of the goals described in subparagraph (iii) of this paragraph and shall include such other information as the Secretary may require. In processing applications for allocations and in reserving allocations, the Secretary may give a preference for projects that demonstrate readiness to proceed. (v) Upon the issuance of any bonds pursuant to a reservation of allocation under this paragraph which remains effective on the date of such issuance, such reservation shall automatically convert to an allocation pursuant to this section. (vi) Except in the case of allocations to municipalities under paragraph (2) of this section, the Secretary may require any local issuer, other than a county, to submit a request for an allocation of the Maryland State ceiling to or through a county.

Md. Code, Financial Institutions § 13-803

(a) Except as specifically provided in this section, an issuer receiving an allocation under this section may not transfer all or any portion of its allocation to any other issuer. (b) (1) Any county may, at any time in its sole discretion, reallocate all or any portion of its allocation to any local issuer (including any agency of the county) within its jurisdiction. (2) Any county which has reallocated all or any portion of its allocation to a local issuer may reduce or further reallocate such reallocation after 30 days’ prior written notice to, or after receiving the consent of, such local issuer, unless such local issuer has used such reallocation for the issuance of bonds prior to the effective date of such reduction or further reallocation. (c) (1) Notwithstanding any applicable law, charter, ordinance, or other corporate document, any issuer receiving an allocation may transfer all or any portion of its allocation to a State issuer for the issuance of bonds. (2) With the approval of the Secretary, any State issuer may transfer to any other issuer all or any portion of any allocation received by or transferred to it for any purpose. However, the Secretary may place any conditions on any such transfer as the Secretary deems appropriate. (3) Any housing bond allocation transferred to the Community Development Administration by a local issuer may be transferred to any other issuer only with the approval of the Secretary and the local issuer that transferred the allocation to the Community Development Administration.

Md. Code, Financial Institutions § 13-804

(a) On September 15 of each calendar year, each issuer shall submit a report, approved in writing by its bond counsel, to the Secretary containing the following information: (1) The amount of the total allocation of the Maryland State ceiling allocated in that year to the issuer prior to September 15; (2) The amount and type of bonds issued in that year pursuant to the total allocation to the issuer in that year; (3) The amount and type of bonds not issued, but anticipated to be issued on or before September 30 of that year, pursuant to the total allocation to the issuer in that year; and (4) Any other information that the Secretary may request. (b) (1) Each issuer shall file with the Secretary a copy of each executed information report required by § 149(e)(2) of the Code to be filed with the federal Internal Revenue Service. (2) Each such information report shall be filed by the earlier of 10 business days following the date of the issuance of the bonds or December 30 of the calendar year in which the bonds are issued. The Secretary may grant an extension of time for the filing of any such information report. (3) Any bonds for which such executed information report is not filed with the Secretary in accordance with this subsection shall be deemed not to have received an allocation of the Maryland State ceiling. (c) Each issuer shall provide the Secretary with such additional reports and other information regarding its allocation of the Maryland State ceiling and the use thereof as the Secretary may request.

Md. Code, Financial Institutions § 13-805

(a) All allocations of the Maryland State ceiling previously made during any calendar year shall automatically revert to the Secretary’s reserve on October 1 of such calendar year except with respect to allocations for which: (1) Bonds have been issued; (2) With the approval of the issuer, a preliminary official statement has been distributed by the underwriters in connection with the public offering of any bonds; or (3) The issuer has transferred its allocation to a State issuer under § 13-803(c) of this subtitle. (b) All allocations of the Maryland State ceiling for bonds to be issued in a public offering which did not revert to the Secretary’s reserve on October 1 because of subsection (a)(2) of this section shall revert to the Secretary’s reserve on November 15 of the same year if the bonds are not issued on or before November 14 of such year. (c) The unused balance of the initial allocation to the Community Development Administration under § 13-802(3) of this subtitle shall be reallocated from the Secretary’s reserve to the Community Development Administration. (d) (1) All other allocations that have reverted to the Secretary’s reserve shall be reallocated as provided in § 13-802(4) of this subtitle. The Secretary may also give priority in processing and granting reservations of allocation from the Secretary’s reserve to the order in which requests for reallocation are received. (2) No reallocation of the Secretary’s reserve as provided in § 13-802(4) of this subtitle may be made until notice as to the availability and amount of funds has been given to each county executive of a charter county, the Mayor and City Council of Baltimore, the Chairman of the County Council of Wicomico County, and, for all other counties, the president or the chairman of the county commissioners. The failure of any such notice being given as required by this paragraph may not adversely affect the validity of any allocation made by the Secretary under this subtitle or of any bonds issued pursuant to this subtitle. (3) Each request for reallocation shall be accompanied by such information as the Secretary may require. (4) Each reservation of allocation made by the Secretary on or after October 1 of any year shall expire on the date specified in the reservation. (e) (1) An issuer which has received an allocation from the Maryland State ceiling prior to October 1 of any year may not carry forward such allocation to any later year. (2) All requests for a carry-forward allocation shall be submitted to the Secretary with such justifications and other information as the Secretary may require. (3) The Secretary may provide for carry-forward allocations to the extent permitted by the Code.

Md. Code, Financial Institutions § 13-806

(a) (1) The recipients of the proceeds of bonds shall make best efforts to use minority business enterprises in the construction of projects and the provision of services and supplies financed with such proceeds. (2) State and local issuers shall monitor compliance with this requirement. (b) The Secretary may provide guidance in connection with the efforts of such recipients to use minority business enterprises. Such recipients shall provide any information on their efforts to the issuer or to the Secretary that the issuer or the Secretary may request. (c) (1) Any failure to comply with the provisions of this subtitle does not in any way affect the validity of any bonds issued pursuant to an allocation from the Maryland State ceiling under this subtitle or the tax-exempt status of any such bonds under the Code, including the tax-exempt status of interest on such bonds under the Code. (2) Any failure to comply with the provisions of this subtitle may be taken into consideration by the Secretary in making allocations from the Secretary’s reserve under §§ 13-802(4) and 13-805(d) of this subtitle.

Md. Code, Financial Institutions § 13-807

(a) (1) The Secretary may make any and all allocations, apportionments, determinations, and findings required or permitted by this subtitle. (2) Any allocations, apportionments, determinations, and findings of the Secretary shall be made in the Secretary’s sole and absolute discretion, subject to the provisions of this subtitle, shall be conclusive, and are not subject to review or approval under either the Maryland Administrative Procedure Act or any other law of the State of Maryland or by any agency or political subdivision of the State of Maryland. (b) At the request of any issuer or its bond counsel made in connection with the issuance of any bonds, and in order to show compliance with the requirements of the Code, the Secretary or such person as the Secretary shall designate by written order may issue such certifications as may be reasonably required in order to establish the existence of a valid allocation for the proposed bond issuance and to establish that the Maryland State ceiling has not been exceeded, and the Secretary or such person designated by the Secretary in accordance with this subsection shall be the State official designated by State law for the purpose of certifying in connection with the information report required by § 149 of the Code that the bonds included in an issue meet the requirements of § 146 of the Code. (c) The actual dollar amount of all allocations shall be determined by the Secretary. Allocations to issuers of the Maryland State ceiling under § 13-802 of this subtitle shall be based on the most recent census estimate of the resident populations of the State of Maryland and the counties released by the U.S. Bureau of the Census before January 1 of the year in which the allocations are made, as determined by the Secretary.

Md. Code, Financial Institutions § 13-1001

(a) In this subtitle the following words have the meanings indicated. (b) “Authority” means the Canal Place Preservation and Development Authority. (c) “Bonds” means taxable or tax–exempt bonds, including refunding bonds, bond anticipation notes, notes in the nature of commercial paper, certificates, or any other evidence of obligation issued by the Authority. (d) “Fund” means the Canal Place Preservation and Development Authority Financing Fund established under § 13–1017 of this subtitle. (e) “Heritage Area” means the Canal Place Heritage Area, initially known as the Canal Place Historic Preservation District, the boundaries of which are described: (1) In the addendum of January 1993, entitled “The Canal Place Historic Preservation District”, to the report of May 1992 of the Maryland State Highway Administration entitled “The Canal Parkway Development – Station Square Project”; and (2) In any revisions that are: (i) Made by the Authority under § 13–1008(8) or (10) of this subtitle; and (ii) Approved by the Maryland Heritage Areas Authority in accordance with § 13–1111 of this title. (f) “Local jurisdiction” means: (1) Any of the 23 counties of the State; (2) The City of Baltimore; or (3) Any municipal corporation subject to the provisions of Article XI–E of the Maryland Constitution. (g) “Maryland Heritage Areas Authority” means the Maryland Heritage Areas Authority created under Subtitle 11 of this title. (h) “Park corridor” means the land area within the Heritage Area the boundaries of which are described: (1) In the report of May 1992 of the Maryland State Highway Administration entitled “The Canal Parkway Development – Station Square Project”; and (2) In any revision that the Authority makes under § 13–1008(8) of this subtitle to the report of May 1992 of the Maryland State Highway Administration entitled “The Canal Parkway Development – Station Square Project”.

Md. Code, Financial Institutions § 13-1002

The General Assembly makes the following findings: (1) The Chesapeake and Ohio Canal is one of the great historic waterways of the United States extending 185 miles from Georgetown in the District of Columbia to its western terminus in Cumberland, Maryland; (2) The current physical condition of the Chesapeake and Ohio Canal in the City of Cumberland is one of severe deterioration with the last mile of the canal buried under a flood control project during the 1950s; (3) An opportunity now exists to rediscover the value of this waterway by transforming the canal and adjacent areas to a showpiece of historic preservation that will enhance recreational, commercial, civic, transportation, educational, and ecological values; (4) It is in the interest of the State, the local jurisdictions within and surrounding the Heritage Area, and the United States that the Heritage Area be preserved, developed, maintained, and used in a manner suitable to its significance, including the historic and cultural significance of the western terminus of the historic Chesapeake and Ohio Canal; (5) To ensure suitable preservation, development, maintenance, and use of the Heritage Area, it is essential that there be developed and carried out a management plan for the Heritage Area as an entirety that will specify: (i) The uses, both public and private, for the buildings, structures, and other property in the Heritage Area and any necessary acquisitions, construction, recreation, and other activities; and (ii) The programming and financing for the rewatering of the Chesapeake and Ohio Canal; (6) The responsibility for developing and implementing a management plan for the Heritage Area can best be carried out by vesting the requisite powers in a public corporation that can take maximum advantage of the public and private resources necessary to ensure success of the management plan; and (7) Any management plan for the development of the Heritage Area should be prepared and implemented in cooperation with the United States Department of the Interior.

Md. Code, Financial Institutions § 13-1003

This subtitle: (1) Shall be liberally construed to effect its purposes; but (2) May not be construed to be inconsistent with any applicable federal law or with the authority of any federal agency under that law.

Md. Code, Financial Institutions § 13-1004

(a) There is a body corporate and politic known as the Canal Place Preservation and Development Authority. (b) The Authority is an instrumentality of the State and a public corporation by that name, style, and title. (c) The Authority is an independent unit in the Executive Branch of the State government. (d) The exercise by the Authority of the powers conferred by this subtitle is the performance of an essential public function.

Md. Code, Financial Institutions § 13-1005

(a) The Authority consists of: (1) Six members appointed by the Governor with the advice and consent of the Senate; (2) One representative of the United States Department of the Interior, as designated by the Department of the Interior; (3) One representative of the Maryland Historical Trust; and (4) One representative of the Mayor and City Council of the City of Cumberland. (b) The Governor shall designate one of the members of the Authority as chairman. (c) (1) The term of a member is 4 years. (2) The terms of members appointed by the Governor are staggered as required by the terms of the members serving on July 1, 2001. (3) At the end of a term, a member continues to serve until a successor is appointed and qualifies. (4) A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies. (5) At the end of the term of a member or on the resignation or removal of a member, the Governor shall appoint a member to the Authority with the advice and consent of the Senate. (d) The Governor may remove a nonfederal member for incompetence, misconduct, or failure to perform the duties of the position.

Md. Code, Financial Institutions § 13-1006

(a) Five members of the Authority are a quorum. (b) Actions of the Authority must receive the affirmative vote of at least four members. (c) The Authority shall determine the times and places of its meetings. (d) A member of the Authority: (1) May not receive compensation; but (2) Is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.

Md. Code, Financial Institutions § 13-1007

(a) With the approval of the Governor, the Authority shall appoint an Executive Director, who is the Chief Administrative Officer and Secretary of the Authority. (b) The Executive Director serves at the pleasure of the Authority, subject to the concurrence of the Governor. (c) The Executive Director shall: (1) Direct and supervise the administrative affairs and activities of the Authority in accordance with its regulations and policies; (2) Attend all meetings of the Authority; (3) Keep minutes of all proceedings of the Authority; (4) Approve: (i) All accounts for salaries, per diem payments, and allowable expenses of the Authority and its employees and consultants; and (ii) All expenses incidental to the operation of the Authority; (5) Report and make recommendations to the Authority on the merits and status of any management plan for the Heritage Area; and (6) Perform any other duty that the Authority requires for carrying out the provisions of this subtitle.

Md. Code, Financial Institutions § 13-1008

In addition to the powers set forth elsewhere in this subtitle, the Authority may: (1) Adopt and alter an official seal; (2) Sue and be sued, plead, and be impleaded; (3) Adopt bylaws to regulate its affairs and the conduct of its business; (4) In accordance with Title 10, Subtitle 1 of the State Government Article, adopt regulations to carry out the provisions of this subtitle; (5) Maintain an office at a place that the Authority designates; (6) Employ, either as regular employees or as independent contractors, and fix the compensation of, accountants, architects, attorneys, construction experts and personnel, consultants, engineers, financial experts, managers, superintendents, and other professional personnel, personnel, and agents; (7) Appoint advisory committees composed of local officials, representatives of the business community, and such other interests as may be appropriate; (8) Subject to the requirements of this subtitle, adopt and implement a management plan for the Heritage Area; (9) Determine the locations of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, rewater, operate, regulate, and maintain, and contribute to the maintenance and operating costs of land, water, buildings, and structures to accomplish the purposes of the Authority; (10) By publishing a revised drawing or other boundary description in the Maryland Register, revise the boundaries of the Heritage Area or the park corridor with the consent of: (i) The governing body of each local jurisdiction which in whole or in part is to be added to or deleted from the Heritage Area; and (ii) The Maryland Heritage Areas Authority; (11) Subject to § 13-1009 of this subtitle, acquire, hold, lease, use, encumber, transfer, or dispose of real and personal property; (12) Provide or contract to provide tourism marketing and promotional services for the Canal Place Heritage Area, and provide financial assistance for tourism marketing and promotion in Allegany County and its municipal jurisdictions, if the expenditures by the Authority for those purposes are matched equally with nonstate funds; (13) Enter into contracts of any kind and execute all instruments necessary or convenient to carry out its powers under this subtitle; (14) Make and participate in making loans or grants, or otherwise provide financial assistance for any project that serves to preserve, develop, maintain, or protect the Heritage Area; (15) Through covenants, regulations, agreements, or otherwise, establish restrictions, standards, and requirements necessary to assure preservation, development, maintenance, and protection of the Heritage Area in accordance with a management plan that the Authority adopts; (16) Fix and revise from time to time and charge and collect rates, rents, fees, or other charges for the use of, or for services rendered in connection with, buildings, structures, land, and water to accomplish the purposes of the Authority; (17) (i) Borrow money from any source for any corporate purpose, including working capital for its operations, reserve funds, or interest; (ii) Mortgage, pledge, or otherwise encumber the property and funds of the Authority; and (iii) Contract with or engage the services of any person for any financing, including underwriters, placement agents, financial institutions, issuers of letters of credit, or insurers; (18) Subject to Part III of this subtitle, issue bonds; (19) Receive and accept from any public or private source contributions, gifts, or grants of money or property; (20) Exercise all the corporate powers granted Maryland corporations under the Maryland General Corporation Law; and (21) Do all things necessary or convenient to carry out the powers granted by this subtitle.

Md. Code, Financial Institutions § 13-1008.1

§13–1008.1. (a) The Authority may adopt and enforce regulations for the parking of motor vehicles in and on any facilities or property the Authority owns or controls. (b) The regulations shall: (1) Be reasonably necessary for the efficient operation of facilities or property owned or controlled by the Authority; (2) Provide for a uniform system for accessible parking for individuals with disabilities, to enhance the safety of individuals with disabilities in conformity with the federal Uniform System for Parking for Persons with Disabilities and the federal Americans with Disabilities Act accessibility guidelines for buildings and facilities; and (3) Include procedures for the voluntary payment of fines directly to the Authority in uncontested parking cases. (c) The Maryland State Police or the Police Department of the City of Cumberland may issue citations for violations of the regulations adopted under this section. (d) The issuance of citations under this section shall comply with the requirements of Title 26, Subtitle 3 of the Transportation Article. (e) (1) A person who violates a parking regulation under this section is subject to a fine established by the Authority in accordance with paragraph (2) of this subsection. (2) The Authority shall adopt regulations to establish fines that are equal to the fines that the City of Cumberland, by ordinance, may impose for similar parking violations. (f) All regulations adopted under this section shall be posted conspicuously in a public place on facilities or property owned or controlled by the Authority. (g) The Executive Director of the Authority may designate employees of the Authority or security personnel under contract with the Authority to issue citations, to the extent authorized by the Executive Director of the Authority, for violations of motor vehicle parking regulations adopted under this section. (h) The Executive Director of the Authority, in consultation with the chief police officer of the Maryland State Police and the Maryland Police Training and Standards Commission, shall adopt regulations establishing: (1) Qualifications for individuals appointed under subsection (g) of this section, which may include prerequisites of character, training, experience, and education; and (2) Standards for the performance of the duties assigned to individuals appointed under subsection (g) of this section.

Md. Code, Financial Institutions § 13-1009

(a) This section does not affect the right of the Authority to acquire an option or institute any condemnation proceeding for later acquisition of property once the approval required by this section occurs. (b) (1) Subject to annual appropriations and this subtitle, the Authority may acquire in its own name, by gift, purchase, or condemnation, any real or personal property, or interests in property, necessary or convenient to carry out its responsibilities under this subtitle. (2) When acquiring in its own name any real or personal property, or interests in property as specified in paragraph (1) of this subsection, the Authority shall first attempt to acquire the property through negotiation and purchase. (3) If it is not able to acquire property through negotiation and purchase, the Authority may exercise the powers of condemnation for private property, as provided in subsection (c) of this section. (c) Subject to subsection (b) of this section, prior approval of the Board of Public Works, and review by the Legislative Policy Committee, the Authority may exercise the power of ordinary condemnation for any private property for any purpose of the Authority: (1) In accordance with Title 12 of the Real Property Article; and (2) In the park corridor only. (d) (1) Subject to the prior approval of the Board of Public Works: (i) The State, its agencies, and any local jurisdiction within the Heritage Area may lease, lend, grant, or otherwise convey to the Authority, at its request, any property or interest therein, including property devoted to public use, that is necessary or convenient for the purposes of this subtitle; or (ii) The State may lease or sublease any property or interest therein from or to the Authority, whether or not any building or structure is constructed or usable thereon. (2) Lease payments appropriated by the State to the Authority shall be transferred to the Fund. (e) For any acquisition of real or personal property or interest in property in the City of Cumberland or in Allegany County, other than in the park corridor, the Authority shall comply with any applicable local planning, zoning, and development regulations to the same extent as a private commercial or industrial enterprise.

Md. Code, Financial Institutions § 13-1010

The Authority shall: (1) Administer the Heritage Area in accordance with this subtitle; (2) Subject to § 13-1011 of this subtitle, develop a management plan for the Heritage Area; (3) Preserve or assist in the preservation of buildings, structures, and settings of historic value in the Heritage Area; (4) Conduct activities to educate the public about the history and significance of the Heritage Area; (5) Provide for recreational uses of the Heritage Area for both active and passive pursuits; (6) Facilitate economic development in the Heritage Area through public and private investment in adaptive reuse, interpretative attractions, or other activities; (7) To the extent practicable, consult and coordinate its activities with the states of West Virginia and Pennsylvania and appropriate regional entities; (8) Keep records consistent with sound business practices and accounting records consistent with generally accepted accounting principles; (9) Cause an audit by an independent licensed certified public accountant to be made of the accounts and transactions of the Authority at the conclusion of each fiscal year; (10) Be subject to audit and examination at any reasonable time by the Office of Legislative Audits of the Department of Legislative Services concerning the accounts and transactions of the Authority; and (11) For inclusion for informational purposes in the State budget book, submit annually to the Department of Budget and Management a budget reflecting the operating and capital program of the Authority.

Md. Code, Financial Institutions § 13-1011

Subject to § 13-1012 of this subtitle, within 18 months after the date on which the Authority conducts its first meeting, the Authority shall develop and submit to the Maryland Historical Trust a management plan that: (1) Specifies the goals and objectives for the preservation, development, and management of the Heritage Area; (2) Provides an inventory of the significant resources in the Heritage Area, including its cultural, historic, and natural resources; (3) Identifies the types of public and private uses to be accommodated in the Heritage Area; (4) Describes the educational, interpretative, and recreational programs and projects concerning the Heritage Area; (5) Describes plans for encouraging and accommodating visitation to and economic development of the Heritage Area; (6) Provides an economic assessment of the long and short term costs and benefits related to the implementation of the management plan, including an identification of expected sources of funding; (7) Describes the specific techniques or means for the long term preservation and protection of the significant resources in the Heritage Area, including its cultural, historic, and natural resources; (8) Describes the public and private organizational structure to be utilized for planning, development, and management of the Heritage Area; and (9) Provides a schedule for the planning, development, and management of the Heritage Area.

Md. Code, Financial Institutions § 13-1012

(a) At least 30 days before submitting a management plan to the Maryland Historical Trust under § 13-1011 of this subtitle, the Authority shall: (1) Hold a public hearing in the City of Cumberland for the purpose of soliciting public comment; and (2) Submit the management plan to, and obtain the preliminary approval of, the Mayor and City Council of the City of Cumberland. (b) (1) At least 30 days before the public hearing required by subsection (a)(1) of this section, the Authority shall notify the Mayor and City Council of the City of Cumberland of the hearing and advertise the notice in a newspaper of general circulation in the City of Cumberland. (2) The notice shall include: (i) A description of the management plan for the Heritage Area; and (ii) The date, time, and location of the public hearing.

Md. Code, Financial Institutions § 13-1013

(a) Within 90 days after receipt from the Authority of a management plan, the Maryland Historical Trust shall approve or disapprove the plan. (b) (1) Unless the Maryland Historical Trust determines that a management plan would adequately carry out the purposes of this subtitle, it may not approve the management plan. (2) In considering whether to approve a management plan, the Maryland Historical Trust shall consult with appropriate units of the State government, including the Department of Commerce, the Department of Natural Resources, and the Department of Planning. (c) If the Maryland Historical Trust disapproves a management plan, the Trust shall advise the Authority of the reason for the disapproval and provide recommendations for a revision of the plan. (d) The Maryland Heritage Areas Authority shall approve or disapprove any revisions to an existing management plan for the Heritage Area in accordance with § 13–1111(m) of this title.

Md. Code, Financial Institutions § 13-1014

(a) Except as provided in subsection (b) of this section and notwithstanding any power vested in the Authority by this subtitle, the Authority may not make any expenditure until: (1) The Maryland Historical Trust approves a management plan for the Heritage Area; (2) The management plan has been adopted by the Authority; (3) The Mayor and City Council of the City of Cumberland: (i) Adopt the management plan through formal amendment of the City’s comprehensive plan; and (ii) Enact an ordinance that: 1. Consistent with Title 8 of the Land Use Article, creates a Historic District Commission for portions of the Heritage Area within the City of Cumberland; 2. Provides for membership on the Historic District Commission in accordance with the minimum professional requirements of the United States Department of the Interior for certifying local governments under 36 C.F.R. Part 61; 3. To the extent necessary to meet the requirements of items 1 and 2 of this item, provides for the appointment of members of the Historic District Commission who are not residents of the City of Cumberland; 4. Requires that within 18 months after the Historic District Commission conducts its first meeting, the Commission shall develop and submit for approval to the Maryland Historical Trust design standards and criteria applicable to all construction, preservation, rehabilitation, and restoration within the portions of the Heritage Area within the City of Cumberland; and 5. Provides that the Historic District Commission review and approve the design of all projects that the City of Cumberland conducts, assists, licenses, or permits that affect properties within the Heritage Area; and (4) The Authority and the Mayor and City Council of the City of Cumberland execute a memorandum of agreement that specifies detailed policies and procedures for mutual notification and review and consultation regarding their respective actions and undertakings in the Heritage Area. (b) Before the requirements of subsection (a) of this section occur, the Authority may make expenditures only to: (1) Support the basic administrative operations of the Authority; (2) Develop the management plan for the Heritage Area and related preliminary plans; and (3) Acquire complete or partial interests in, or preserve or assist in the preservation of, properties within the park corridor that: (i) Are listed on or determined to be eligible for listing on the Maryland Register of Historic Properties; and (ii) Would be subject to demolition or major alteration in a manner that is inconsistent with the purposes of this subtitle, unless acquired, preserved, or assisted by the Authority.

Md. Code, Financial Institutions § 13-1015

The City of Cumberland shall submit to the Authority for review and approval any plan for any activity the City proposes to conduct, assist, license, or permit that will affect property within the park corridor: (1) After the Authority’s adoption of a management plan for the Heritage Area in accordance with this subtitle; and (2) Before the City implements its plan for the activity.

Md. Code, Financial Institutions § 13-1016

For the purpose of reviewing the development of the management plan for the Heritage Area, the Authority shall appoint a task force that includes: (1) Members of the General Assembly who reside in Allegany County; (2) A representative of each of: (i) The Board of County Commissioners of Allegany County; (ii) The Chesapeake and Ohio Canal National Historical Park Commission; (iii) The Department of Natural Resources; (iv) The Maryland Historical Trust; (v) The Mayor of the City of Cumberland; (vi) The United States Department of the Interior, as designated by the Department of the Interior; (vii) The Department of Planning; and (viii) The State Highway Administration of the Department of Transportation; (3) Residents and business representatives from the area within and adjacent to the Heritage Area; and (4) Other representatives as the Authority deems appropriate.

Md. Code, Financial Institutions § 13-1017

(a) There is a Canal Place Preservation and Development Authority Financing Fund. (b) The Authority shall use the Fund as a continuing, nonlapsing, revolving fund for carrying out the purposes of this subtitle. No part of the Fund may revert or be credited to the General Fund or to any other special fund of the State. (c) The Authority shall place all of the following receipts in the Fund: (1) Proceeds from the sale of bonds; (2) Revenues that the Authority collects or receives from any source under this subtitle; and (3) Any additional revenue, gift, donation, or money received or paid to it from any other source authorized by law. (d) The Authority shall pay all expenses and make all expenditures from the Fund. (e) (1) The Authority may pledge and charge all or a portion of the receipts of the Fund for the payment of: (i) Debt service on bonds of the Authority; and (ii) All reasonable charges and expenses related to borrowing by the Authority and management of the obligations of the Authority. (2) A pledge made under paragraph (1) of this subsection is effective as provided in § 13–1022 of this subtitle and any applicable resolution of the Authority. (f) The State Treasurer shall: (1) Invest and reinvest the Fund in the same manner as State funds; and (2) Transfer any investment earnings to the credit of the Fund.

Md. Code, Financial Institutions § 13-1018

(a) Subject to this part, the Authority may at any time and from time to time issue bonds for any corporate purpose, including the establishment of reserves and the payment of interest. (b) The Authority: (1) Shall by resolution authorize any bonds that it issues; and (2) May secure the bonds by a trust agreement between the Authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the State. (c) The Authority shall notify the Board of Public Works of its intention to issue bonds up to a stated amount.

Md. Code, Financial Institutions § 13-1019

The bonds of any issue shall be payable solely from the property or receipts of the Authority, including, without limitation: (1) Fees, charges, or other revenues payable to the Authority; (2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements; (3) Investment earnings from funds or accounts maintained pursuant to a bond resolution or trust agreement; (4) Proceeds of refunding bonds; and (5) Any other source authorized by law.

Md. Code, Financial Institutions § 13-1020

The bonds that the Authority issues shall: (1) Be issued at, above, or below par value, for cash or other valuable consideration, and mature at a time or times, whether as serial bonds or as term bonds or both, not exceeding the maturity date established by the Authority; (2) Bear interest at the fixed or variable rate or rates determined by the method provided in the resolution or trust agreement; (3) Be payable at a time or times, in the denominations and form, either coupon or registered or both, and carry the registration and privileges as to conversion and for the replacement of mutilated, lost, or destroyed bonds as the resolution or trust agreement may provide; (4) Notwithstanding any other law, be deemed a “security” within the meaning of § 8–102 of the Commercial Law Article, whether or not it is either one of a class or a series or by its terms is divisible into a class or series of instruments and negotiable for all purposes although payable from a limited source; (5) Be payable in lawful money of the United States at a designated place; (6) Be subject to the terms of purchase, payment, redemption, refunding, or refinancing that the resolution or trust agreement provides; (7) Be executed by the manual or facsimile signatures of the officers of the Authority designated by the Authority, which signatures shall be valid at delivery even for an officer who has ceased to hold office; and (8) Be sold in the manner and on the terms determined by the Authority, including private (negotiated) sale and be exempt from §§ 8–206, 8–208, and 8–209 of the State Finance and Procurement Article.

Md. Code, Financial Institutions § 13-1021

(a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1018(b) of this subtitle may contain provisions that: (1) Pledge, assign, or direct the use, investment, or disposition of all or a portion of the receipts of the Authority or all or a portion of the proceeds or benefits of any contract and convey or otherwise secure any property or property rights; (2) Set aside loan funding deposits, debt service reserves, capitalized interest accounts, cost of issuance accounts, and sinking funds, and regulate, invest, and dispose of these deposits, reserves, accounts, and funds; (3) Limit the purpose to which or the investments in which the proceeds of sale of any issue of bonds may be applied and restrict the investment of revenues or bond proceeds as deemed necessary, which may include limiting investments to government obligations for which principal and interest are unconditionally guaranteed by the United States; (4) Limit the issuance of additional bonds and specify the terms on which additional bonds may be issued, secured, and rank on parity with, or be subordinate or superior to, other bonds; (5) Refund or refinance outstanding bonds; (6) Establish any procedure concerning the manner in which the terms of any contract with bondholders may be altered or amended, the amount of bonds to which the holders must consent, and the manner in which the holders must consent; (7) Define the acts or omissions that constitute a default in the duties of the Authority to holders of bonds and provide the rights and remedies of the holders in the event of a default, which may include provisions that restrict individual right of action by bondholders; (8) Provide for guarantees, pledges of property, letters of credit, or other security, or insurance for the benefit of bondholders; and (9) Provide for any other matter relating to the bonds that the Authority deems appropriate. (b) Any provisions under subsection (a) of this section that the Authority includes in a resolution or trust agreement shall be part of the contract with the holders of the bonds.

Md. Code, Financial Institutions § 13-1022

(a) A pledge by the Authority of revenues as security for an issue of bonds shall be valid and binding from the time when the documents evidencing the pledge are executed by the Authority. (b) (1) The revenues that the Authority pledges are immediately subject to the lien of the pledge without any physical delivery or further act. (2) The lien of any pledge of revenue is valid and binding against any person who has any claim in tort, contract, or otherwise against the Authority, whether or not the person has notice. (c) In order to perfect the lien on the revenue pledged by the Authority against third persons, a resolution, trust agreement or financing statement, continuation statement, or other instrument that the Authority adopts or enters into need not be filed or recorded in any public record other than the records of the Authority.

Md. Code, Financial Institutions § 13-1023

(a) No member of the Authority nor any person executing the bonds shall be liable personally on the bonds or subject to any personal liability by reason of the issuance of the bonds. (b) Except as otherwise provided by an applicable resolution or trust agreement, a holder of bonds issued under this subtitle, or a trustee acting under a trust agreement entered into under this subtitle, may, by any suitable form of legal proceedings, protect and enforce any rights granted under the laws of this State or by any applicable resolution or trust agreement.

Md. Code, Financial Institutions § 13-1024

Md. Code, Financial Institutions § 13-1025

(a) The Authority may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of, or as a security for, its bonds. (b) Any financial institution, investment company, insurance company or association, and any personal representative, guardian, trustee, or other fiduciary, may legally invest any money belonging to them or within their control in any bonds issued by the Authority.

Md. Code, Financial Institutions § 13-1026

The bonds of the Authority, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, are exempt at all times from every kind of taxation by this State or by any of its political subdivisions, municipal corporations, or public agencies.

Md. Code, Financial Institutions § 13-1027

The Authority is exempt: (1) From the payment of taxes or assessments of any kind; (2) Except as provided in Title 12, Subtitle 4 and Title 14, Subtitle 3 of the State Finance and Procurement Article, from the provisions of Division II of the State Finance and Procurement Article; and (3) From the provisions of Division I of the State Personnel and Pensions Article that govern the State Personnel Management System.

Md. Code, Financial Institutions § 13-1028

For purposes of applying for, receiving, and entering into agreements in connection with loans, grants, insurance, or other forms of financial assistance, the Authority is a public body within the meaning of the Maryland Industrial Development Financing Authority Act.

Md. Code, Financial Institutions § 13-1029

(a) Any unit of the State government that conducts or supports activities affecting the Heritage Area shall: (1) Consult, cooperate, and, to the maximum extent possible, coordinate its activities with the Authority; and (2) Conduct or support the activities of the unit in a manner that: (i) To the maximum extent practicable, is consistent with the management plan established under § 13-1011 of this subtitle; and (ii) As determined under §§ 5A-325 and 5A-326 of the State Finance and Procurement Article, does not have an adverse effect on the historic resources of the Heritage Area. (b) A unit of the State government may not issue any license or permit to any person to conduct any activity within the Heritage Area unless the unit determines that the proposed activity: (1) Will be conducted in a manner that is consistent with the management plan established under § 13-1011 of this subtitle; and (2) As determined under §§ 5A-325 and 5A-326 of the State Finance and Procurement Article, does not have an adverse effect on the historic resources of the Heritage Area.

Md. Code, Financial Institutions § 13-1030

If the Board of Public Works finds that the Authority or the City of Cumberland has failed to make good faith efforts to implement any responsibility under this Act or a management plan for the Heritage Area, the Board may refuse to obligate, expend, or approve any financial commitment on behalf of the Authority.

Md. Code, Financial Institutions § 13-1031

This subtitle may be cited as the Canal Place Preservation and Development Authority Act.

Md. Code, Financial Institutions § 13-1101

(a) In this subtitle the following words have the meanings indicated. (b) “Authority” means the Maryland Heritage Areas Authority established under § 13–1103 of this subtitle. (c) “Bonds” means revenue bonds, including refunding bonds or revenue anticipation notes, issued by the Authority. (d) “Certified heritage area” means a heritage area designated in accordance with § 13–1111 of this subtitle. (e) “Fund” means the Maryland Heritage Areas Authority Financing Fund established under § 13–1114 of this subtitle. (f) “Geographical information system file” means a computer file that: (1) Captures, stores, and displays various types of spatial and attribute data on a map; (2) Depicts the boundaries of a recognized heritage area; (3) Includes the date of approval of the boundaries by the Authority; and (4) Is posted on a website hosted by the State. (g) “Heritage area” means a developed area of public and private uses that: (1) Ranges in size from a portion of a county or municipal corporation to a regional area with a special coherence; (2) Is distinguished by physical and cultural resources which have played a vital role in the historic life and development of the community and contribute to the public through interpretive, educational, and recreational use; (3) Is composed of contiguous or noncontiguous geographic areas; and (4) May include traditional parks and historic places or property on the national or State register of historic properties. (h) (1) “Local plan” means the policies, statements, goals, and interrelated plans for private and public land use, transportation, and community facilities documented in texts and maps which constitute the guide for the area’s future development. (2) “Local plan” includes a general plan, master plan, comprehensive plan, community plan, and the like as adopted in accordance with Title 1, Subtitle 4 or Title 3 of the Land Use Article. (i) “Management plan” means a document prepared in accordance with § 13–1111 of this subtitle that includes a comprehensive statement in words, maps, illustrations, or other media of communication of the objectives, policies, and standards to guide public and private action for the preservation, interpretation, development, and use of the cultural, historic, natural, and architectural resources of a certified heritage area. (j) “Recognized heritage area” means a heritage area that: (1) The local jurisdictions within the heritage area have nominated for designation as a recognized heritage area under § 13–1110 of this subtitle; and (2) The Heritage Areas Authority has designated as eligible to apply for designation as a certified heritage area under § 13–1111 of this subtitle.

Md. Code, Financial Institutions § 13-1102

This subtitle: (1) Shall be liberally construed to effect its purposes; and (2) Shall be construed consistently with any applicable federal law or with the authority of any federal agency under that law.

Md. Code, Financial Institutions § 13-1103

(a) There is a Maryland Heritage Areas Authority, established as: (1) A body corporate and politic; and (2) An instrumentality of the State. (b) The Authority is an independent unit of government in the Executive Branch of government that operates in the Department of Planning. (c) The exercise by the Authority of the powers conferred by this subtitle is the performance of an essential public function.

Md. Code, Financial Institutions § 13-1104

(a) The Authority consists of: (1) The Secretary of Housing and Community Development; (2) The Secretary of Commerce; (3) The Secretary of Higher Education; (4) The Secretary of Transportation; (5) The Secretary of Natural Resources; (6) The Secretary of the Department of Planning; (7) The State Historic Preservation Officer; and (8) Ten members appointed by the Governor with the advice and consent of the Senate: (i) Two of whom shall be elected officials or representatives of local jurisdictions; (ii) Two of whom shall be appointed from names recommended by the President of the Maryland Senate; (iii) Two of whom shall be appointed from names recommended by the Speaker of the House of Delegates; (iv) One of whom is a public member of the Maryland Greenways Commission; (v) One of whom is a public member of the Maryland Tourism Development Board; (vi) One of whom is a member of the public who has significant education or experience in historic preservation; and (vii) One of whom is a member of the public who has significant education or experience in heritage tourism. (b) Of the elected officials or representatives from local jurisdictions, the Governor shall appoint: (1) One elected official or representative from a list submitted by the Maryland Association of Counties; and (2) One elected official or representative from a list submitted by the Maryland Municipal League. (c) The members appointed to the Authority shall represent the gender, racial, and geographic makeup of the State. (d) A member of the Authority may not also be a member of the board of directors or any other type of governing or oversight body of an organization qualifying for State funds as a recognized or certified heritage area. (e) A cabinet member of the Authority may designate a representative to act in the absence of the cabinet member. (f) (1) Except for State officials, the term of a member of the Authority is 4 years. (2) The terms of members appointed by the Governor are staggered as required by the terms provided for members on October 1, 1996. (3) At the end of a term, a member continues to serve until a successor is appointed and qualifies. (4) A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies. (5) At the end of the term of a member or on the resignation or removal of a member, the Governor shall appoint a member to the Authority with the advice and consent of the Senate. (g) The Secretary of Planning shall serve as chair of the Authority. (h) The Governor may remove a member that a Governor appointed for incompetence, misconduct, or failure to perform the duties of the position.

Md. Code, Financial Institutions § 13-1105

(a) Nine voting members of the Authority are a quorum. (b) An action of the Authority must receive the affirmative vote of at least a majority of the voting members of the Authority. (c) The Authority shall determine the times and places of its meetings. (d) A member of the Authority: (1) May not receive compensation; but (2) Is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.

Md. Code, Financial Institutions § 13-1106

(a) In accordance with the State budget, the Maryland Historical Trust shall dedicate administrative staff for the Authority. (b) (1) As the Authority considers appropriate, the Authority may request other units of State government to detail staff or provide technical assistance to recognized and certified heritage areas. (2) On request of the Authority, other units of State government may detail staff or technical assistance to specific recognized or certified heritage areas.

Md. Code, Financial Institutions § 13-1107

In addition to the powers set forth elsewhere in this subtitle, the Authority may: (1) Recognize heritage areas in accordance with § 13-1110 of this subtitle and certify recognized heritage areas in accordance with § 13-1111 of this subtitle; (2) Approve or reject management plans for certified heritage areas in accordance with § 13-1111 of this subtitle; (3) Adopt and alter an official seal; (4) Sue and be sued, plead, and be impleaded; (5) Adopt bylaws to regulate its affairs and the conduct of its business; (6) In accordance with Title 10, Subtitle 1 of the State Government Article, adopt regulations to carry out the provisions of this subtitle; (7) Employ, either as regular employees or as independent contractors, and fix the compensation of, accountants, architects, attorneys, construction experts, personnel consultants, engineers, financial experts, managers, superintendents, and other professional personnel and agents; (8) Appoint advisory committees composed of local officials, representatives of the business and preservation communities, and representatives of other interests as the Authority deems appropriate; (9) Subject to annual appropriations, acquire in its own name, by gift or purchase, any personal property or interests in personal property necessary or convenient to support a certified heritage area and carry out the responsibilities of the Authority under this subtitle; (10) Subject to annual appropriation and to the prior approval of the Board of Public Works, acquire in its own name, by gift or purchase, any real property or interests in real property necessary or convenient to support a certified heritage area and carry out the responsibilities of the Authority under this subtitle; (11) Enter into contracts of any kind and execute all instruments necessary or convenient to carry out its powers under this subtitle; (12) Make and participate in making loans or grants, or otherwise provide financial assistance for any project that serves to preserve, develop, maintain, or protect a State designated heritage area; (13) (i) Borrow money from any source for any purpose of this subtitle, including capital for its operations, reserve funds, or interest; (ii) Mortgage, pledge, or otherwise encumber the property and funds of the Authority; and (iii) Contract with or engage the services of any person for any financing, including underwriters, placement agents, financial institutions, issuers of letters of credit, or insurers; (14) Subject to Part IV of this subtitle, issue bonds; (15) Receive and accept from any public or private source contributions, gifts, or grants of money or property; (16) Exercise all the corporate powers granted Maryland corporations under the Maryland General Corporation Law; and (17) Subject to the limitations under this subtitle, do all things necessary or convenient to carry out the powers granted by this subtitle.

Md. Code, Financial Institutions § 13-1108

The Authority shall: (1) Meet at least twice each year; (2) Develop and adopt standards, criteria, and guidance for its review and approval of recognized and certified heritage area designations, management plans, grants and loans, or other approvals required under this subtitle; (3) Assist in coordinating State actions with the objectives of the system of heritage areas and assist and make recommendations necessary to carry out the purposes of this subtitle; (4) (i) Review complaints made by local governments or other entities established to administer heritage areas that relate to activities undertaken by State agencies which may adversely affect heritage area resources; and (ii) Resolve any disputes that may arise in connection with the exercise of its authority under this subtitle; and (5) Not less than once a year, submit reports to the Governor and the General Assembly concerning progress toward implementing the heritage areas system, including recommendations for the future.

Md. Code, Financial Institutions § 13-1109

There is a Maryland system of recognized heritage areas and certified heritage areas that: (1) Reflects the cultural themes of the State’s development; and (2) Provides educational, inspirational, economic, and recreational benefits for present and future generations.

Md. Code, Financial Institutions § 13-1110

(a) (1) The Authority may consider proposals submitted by local jurisdictions to designate a heritage area as a recognized heritage area. (2) The Authority shall adopt regulations that specify criteria and procedures for designating recognized heritage areas. (b) A proposal for the designation of a heritage area as a recognized heritage area shall: (1) Be previously approved and submitted by the governing bodies of all of the local jurisdictions located within the specific boundaries proposed for the recognized heritage area; (2) To the maximum extent practicable, be developed in consultation with affected State agencies; (3) Specify the boundaries for the recognized heritage area; (4) Identify the local entity responsible for coordinating development of the management plan required under § 13-1111 of this subtitle; (5) Describe the cultural, historic, and natural resources which contribute to the special character of the heritage area; (6) Specify the general goals and objectives for the preservation, development, and management of the heritage area; (7) Identify the types of public and private uses to be accommodated in the heritage area; (8) Describe strategies for encouraging and accommodating visitation to and compatible economic development of the heritage area; (9) Provide an economic overview of the long and short term costs and benefits related to the development of the heritage area; and (10) Describe the techniques and means to be instituted by the local jurisdictions to assure the long term preservation and protection of the cultural, historic, and natural resources within the heritage area, including zoning, subdivision controls, and other growth management techniques. (c) The Authority may not designate a heritage area as a recognized heritage area unless the Authority finds that: (1) The heritage area contains resources of statewide significance that have retained integrity of setting and a cohesive character; (2) The heritage area contains at least one or more: (i) Historic districts either listed in, or determined to be eligible for listing in, the Maryland Register of Historic Properties in accordance with § 5A-323 of the State Finance and Procurement Article; or (ii) Natural or recreational resources determined by the Secretary of Natural Resources to be of statewide significance; and (3) Public assistance for the heritage area is reasonably expected to produce additional private investments, job creation, and tourism revenues. (d) (1) The boundaries for each recognized heritage area are the boundaries depicted on the map accompanying each proposal as approved by the Authority. (2) After initial approval by the Authority of the boundaries of a recognized heritage area, the Authority may amend or revise the boundaries: (i) With the approval of all of the local jurisdictions where the property to be added or removed is located; and (ii) On publication in the Maryland Register of a revised drawing, boundary description, or Uniform Resource Locator (URL) to a geographical information system file. (3) Boundary maps for each recognized heritage area shall be kept on file at the Authority. (4) The Authority shall send a copy of each boundary map to the office of the county clerk where the recognized heritage area is located. (e) Designation of a heritage area by the Authority as a recognized heritage area establishes eligibility for matching grant assistance for the development of management plans.

Md. Code, Financial Institutions § 13-1111

(a) (1) The Authority may consider proposals submitted by the local jurisdictions within a recognized heritage area to designate recognized heritage areas as certified heritage areas. (2) The sponsoring local jurisdictions shall prepare a proposal that includes a management plan for the recognized heritage area. (3) The local jurisdictions shall develop the management plan in cooperation and consultation with the Authority and relevant private interests. (4) On approval of the management plan by the Authority and all local jurisdictions within the recognized heritage area: (i) The Authority shall designate the recognized heritage area as a certified heritage area; and (ii) The management plan shall be the plan for purposes of implementing the certified heritage area for both the State and local jurisdictions. (b) The Authority shall adopt regulations that specify the criteria and procedures for the consideration and adoption of a proposed management plan. (c) The Authority may not designate more than two recognized heritage areas as certified heritage areas for each fiscal year. (d) The Authority shall hold at least one public hearing concerning the proposed management plan for a recognized heritage area in each recognized heritage area proposed for designation as a certified heritage area. (e) Before submission of a management plan to the Authority for approval, the management plan must be submitted for approval to the local governing body of each jurisdiction within the recognized heritage area in the form of an amendment to the local plan. (f) The management plan shall be submitted to the Authority within forty-five days after preliminary approval by all local jurisdictions within the recognized heritage area. (g) A management plan for a certified heritage area shall include: (1) An identification of: (i) The boundaries of the recognized heritage area as set forth in the original designation or as proposed for revision by the management plan; (ii) The land use recommendations of the local plans of all of the local jurisdictions within the recognized heritage area; and (iii) The zones within the recognized heritage area for particular nature and intensity of use, including zones most appropriately devoted to public use and development by State or local government, and for private use; (2) An inventory and evaluation of the significant natural and cultural resources within the recognized heritage area; (3) An identification of the types of public and private uses to be encouraged within the recognized heritage area; (4) An identification of properties, if any, to be acquired, in whole or in part; (5) A description of the educational, interpretive, and recreational programs and projects to be undertaken in the recognized heritage area; (6) A description of plans for encouraging and accommodating visitation to and compatible economic development of the recognized heritage area; (7) An economic assessment of the long and short term costs and benefits related to the implementation of the management plan, including an identification of expected sources of funding; (8) A description of the techniques or means for the preservation and protection of the natural and cultural resources within the recognized heritage area, including: (i) Appropriate existing or proposed local legislation for the designation and protection of historic properties or natural areas to assure that future local actions and development will be consistent with the goals and objectives for the recognized heritage area; and (ii) If the plan proposes the enactment of one or more ordinances to provide for one or more historic preservation commissions for specific sites, structures, or districts within the recognized heritage area, provisions that: 1. Are consistent with Title 8 of the Land Use Article; 2. Provide for membership on the Historic Preservation Commission in accordance with the minimum professional requirements of the United States Department of the Interior for certifying local governments under 36 C.F.R. Part 61; and 3. Provide that the Historic Preservation Commission review and approve the design of all projects that the local jurisdiction conducts, assists, licenses, or permits that affect designated historic properties within the recognized heritage area; (9) A description of the organizational structure to be utilized for planning, development, and management of the heritage area, including the responsibilities and interrelationships of local and State agencies; and (10) A schedule for the planning, development, and management of the recognized heritage area. (h) Each management plan must demonstrate that the capability exists to implement and manage the recognized heritage area, including the capability: (1) To accept and disburse funds; (2) To acquire, improve, and dispose of property; (3) To manage, operate, and maintain appropriate public facilities; and (4) To adopt and enforce land use and preservation standards as required to protect the resources within the heritage area. (i) If the Authority determines that information in a previously submitted management plan contains sufficient information to fulfill the purpose of the management plan, the Authority may waive in whole or in part selected individual requirements regarding the submission of the management plan. (j) The Authority shall approve or disapprove the management plan within 90 days after the Authority receives a management plan from the local jurisdictions. (k) The Authority may not approve a management plan unless the Authority determines that a management plan would adequately carry out the purposes of this subtitle. (l) If the Authority disapproves a management plan, the Authority shall advise the local jurisdictions in writing of the reason for the disapproval and provide recommendations for a revision of the plan. (m) The Authority shall approve or disapprove any revisions to an existing management plan in the same manner as specified in subsections (j) through (l) of this section. (n) Approval of a management plan by the Authority and final approval of the plan by all local jurisdictions within a recognized heritage area shall: (1) Establish the designation of a recognized heritage area as a certified heritage area; (2) Establish eligibility for the receipt of acquisition, development, and programming assistance from the State within the certified heritage area boundaries; (3) Establish eligibility for qualifying properties and persons for certain tax incentives for activities within the defined heritage area boundaries; and (4) For continuance of the certified heritage area, require appropriate local action to protect and safeguard the significant resources in the certified heritage area. (o) The Canal Place Historic Preservation District established under Subtitle 10 of this title is the initial certified heritage area designated under this subtitle. (p) After holding a public hearing in the certified heritage area that is the subject of the Authority’s review, the Authority may withdraw its approval of a management plan if the Authority finds that a local jurisdiction responsible for the certified heritage area: (1) Has taken actions which have had a significant adverse impact upon significant certified heritage area resources; or (2) Has failed to implement its role under a management plan. (q) If the Authority withdraws its approval of a management plan: (1) The heritage area shall no longer be designated as a certified heritage area; and (2) The Authority shall report its withdrawal of approval to the Governor and the General Assembly stating the reasons for the action of the Authority.

Md. Code, Financial Institutions § 13-1112

(a) (1) The State officials under items (i) through (vii) of this subsection who have program responsibilities that affect aspects of the interpretation, preservation, development, and use of heritage area resources shall prepare a program statement detailing actions in the areas of planning, development, use, assistance, and regulation that support and assist the establishment and management of certified heritage areas, as follows: (i) Secretary of Planning regarding local government adoption of heritage area management plans and regarding historic preservation and museum programs; (ii) Secretary of Housing and Community Development regarding housing and neighborhood revitalization; (iii) Secretary of Commerce regarding the State tourism program and economic development and job creation activities; (iv) Secretary of Natural Resources regarding outdoor recreation and the management of natural resources, including State greenways; (v) Secretary of Higher Education regarding educational resources and their interpretation; (vi) Secretary of Transportation regarding access to and transportation within certified heritage areas, including the scenic byways program and programs for special signage; and (vii) Secretary of General Services regarding the management and disposition of State property. (2) The State officials shall submit the program statements required under paragraph (1) of this subsection, and any revisions of the statements, to the Authority. (b) Units of State government that conduct or support activities affecting a certified heritage area shall: (1) Consult, cooperate, and to the maximum extent feasible, coordinate their activities with the unit or entity responsible for the management of each certified heritage area; (2) To the maximum extent practicable, carry out the activities of the unit in a manner that is consistent with the approved management plan for the certified heritage area; and (3) When conducting a review of activities under §§ 5A–325 and 5A–326 of the State Finance and Procurement Article, assure that the activities will not have an adverse effect on the historic and cultural resources of the certified heritage area, unless there is no prudent and feasible alternative.

Md. Code, Financial Institutions § 13-1113

(a) As provided in the State budget, the Authority may award: (1) Grants and loans to local jurisdictions or other appropriate entities for planning, design, acquisition, development, preservation, restoration, interpretation, marketing, and programming of certified heritage areas; and (2) Grants to local jurisdictions or other appropriate entities to develop management plans in recognized heritage areas. (b) A grant to develop a management plan may not exceed 50% of the cost of the management plan. (c) An acquisition or development grant: (1) May not be used for any purpose other than implementation of the certified heritage area in conformity with the approved management plan; and (2) May not exceed 50% of the total project cost for which the grant is awarded. (d) (1) Subject to paragraph (2) of this subsection, the Authority may make program grants to local jurisdictions and other appropriate entities: (i) To develop and present interpretive exhibits, materials or other appropriate products to further the educational and recreational objectives of the certified heritage areas program; and (ii) To encourage revitalization of, and reinvestment in, certified heritage area resources. (2) A program grant made by the Authority under paragraph (1) of this subsection may not exceed 50% of the estimated project cost. (e) Through the resources of the members of the Authority and in cooperation with other State agencies, the Authority shall provide technical assistance to management entities implementing a management plan.

Md. Code, Financial Institutions § 13-1114

(a) There is a Maryland Heritage Areas Authority Financing Fund. (b) (1) The Authority shall use the Fund as a continuing, nonlapsing, revolving fund for carrying out the purposes of this subtitle. (2) No part of the Fund may revert or be credited to the General Fund or to any other special fund of the State. (c) The Authority shall place all of the following receipts in the Fund: (1) Proceeds from the sale of bonds; (2) Revenues that the Authority collects or receives from any source under this subtitle; and (3) Any additional revenue, gift, donation, or money received or paid to it from any other source authorized by law. (d) The Authority shall pay all expenses and make all expenditures from the Fund. (e) (1) The Authority may pledge and charge all or a portion of the receipts of the Fund for the payment of: (i) Debt service on bonds of the Authority; and (ii) All reasonable charges and expenses related to borrowing by the Authority and management of the obligations of the Authority. (2) A pledge made under paragraph (1) of this subsection is effective as provided in § 13–1119 of this subtitle and any applicable resolution of the Authority. (f) The State Treasurer shall: (1) Invest and reinvest the Fund in the same manner as State funds; and (2) Transfer any investment earnings to the credit of the Fund. (g) (1) In this subsection, “Program Open Space funds transferred to the Authority” means the money appropriated to the Fund from Program Open Space funds under § 5–903(a) of the Natural Resources Article. (2) Except as provided in paragraph (3) of this subsection, Program Open Space funds transferred to the Authority may not be used to pay the operating expenses of the Authority, debt service of bonds issued by the Authority, or administrative expenses related to bonds issued by the Authority. (3) (i) Up to 10% of Program Open Space funds transferred to the Authority may be used to pay the operating expenses of the Authority. (ii) Up to 50% of Program Open Space funds transferred to the Authority may be expended for debt service on bonds issued by the Authority. (iii) For fiscal year 2012 only, an additional $500,000 of Program Open Space funds transferred to the Authority may be used to pay operating expenses in the Department of Planning. (iv) For fiscal year 2026 only, an additional $340,000 of Program Open Space funds transferred to the Authority may be used to pay operating expenses in the Department of Planning.

Md. Code, Financial Institutions § 13-1115

(a) (1) Subject to this part, the Authority may at any time and from time to time issue bonds for the purposes of this subtitle to obtain funds to provide financial assistance for or otherwise support a certified heritage area. (2) The Authority may issue the bonds only if it determines that the issuance is necessary to achieve the purposes of this subtitle. (3) The Authority may not issue tax-exempt private activity bonds that are subject to the volume cap under § 146 of the Internal Revenue Code. (4) The Board of Public Works may not approve the issuance of bonds by the Authority that will result in more than $15,000,000 in an aggregate outstanding and unpaid principal balance of bonds for the Authority at any time. (b) (1) The Authority shall submit each proposed issue of bonds to the Board of Public Works and shall obtain the approval of the Board of Public Works for the proposed issue prior to sale of the bonds. (2) In submitting a proposal to issue bonds to the Board of Public Works, the Authority shall identify the source of revenue that supports the debt service on the bonds. (c) The Authority: (1) Shall by resolution authorize any bonds that it issues; and (2) May secure the bonds by a trust agreement between the Authority and a corporate trustee or trustees, which may be any trust company or bank that has the powers of a trust company within or without the State. (d) Except as otherwise expressly required by this subtitle, the Authority may issue the bonds or notes without: (1) Obtaining the consent of any other unit of State government; (2) Any proceedings; or (3) The occurrence of any conditions.

Md. Code, Financial Institutions § 13-1116

(a) The bonds of any issue shall be payable solely from the property or receipts of the Authority, including without limitation: (1) Fees, charges, or other revenues payable to the Authority; (2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements; (3) Investment earnings from funds or accounts maintained under a bond resolution or trust agreement; (4) Proceeds of refunding bonds; and (5) Any other source authorized by law. (b) The bonds do not constitute a debt, liability, or pledge of full faith and credit of the State and may not be deemed to constitute a debt, liability, or pledge of the full faith and credit of the State.

Md. Code, Financial Institutions § 13-1117

The bonds that the Authority issues shall: (1) Be issued at, above, or below par value, for cash or other valuable consideration, and mature at a time or times, whether as serial bonds or as term bonds or both, not exceeding the maturity date established by the Authority; (2) Bear interest at the fixed or variable rate or rates determined by the method provided in the resolution or trust agreement; (3) Be payable at a time or times, in the denominations and form, either coupon or registered or both, registrable as to principal and interest alone or as to both and carry the registration and privileges as to conversion and for the replacement of mutilated, lost, or destroyed bonds as the resolution or trust agreement may provide; (4) Notwithstanding any other law, be deemed a “security” within the meaning of § 8-102 of the Commercial Law Article, whether or not it is either one of a class or a series or by its terms is divisible into a class or series of instruments and negotiable for all purposes although payable from a limited source; (5) Be payable in lawful money of the United States at a designated place, including one or more banks or trust companies; (6) Be subject to the terms of purchase, payment, redemption, refunding, or refinancing that the resolution or trust agreement provides; (7) Be executed by the manual or facsimile signatures of the officers of the Authority designated by the Authority, which signatures shall be valid for all purposes at delivery even for an officer who has ceased to hold office; and (8) Be sold in the manner and on the terms determined by the Authority, including private (negotiated) sale and be exempt from §§ 8-206, 8-208, and 8-209 of the State Finance and Procurement Article.

Md. Code, Financial Institutions § 13-1118

(a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1115 of this subtitle may contain provisions that: (1) Pledge, assign, or direct the use, investment, or disposition of all or a portion of the receipts of the Authority or all or a portion of the proceeds or benefits of any contract and convey or otherwise secure any property or property rights; (2) Set aside loan funding deposits, debt service reserves, capitalized interest accounts, cost of issuance accounts, and sinking funds, and regulate, invest, and dispose of these deposits, reserves, accounts, and funds; (3) Limit the purpose to which or the investments in which the proceeds of sale of any issue of bonds may be applied and restrict the investment of revenues or bond proceeds as deemed necessary, which may include limiting investments to government obligations for which principal and interest are unconditionally guaranteed by the United States; (4) Limit the issuance of additional bonds and specify the terms on which additional bonds may be issued, secured, and rank on parity with, or be subordinate or superior to other bonds; (5) Refund or refinance outstanding bonds; (6) Establish any procedure concerning the manner in which the terms of any contract with bondholders may be altered or amended, the amount of bonds to which the holders must consent, and the manner in which the holders must consent; (7) Define the acts or omissions that constitute a default in the duties of the Authority to holders of bonds and provide the rights and remedies of the holders in the event of a default, which may include provisions that restrict individual right of action by bondholders; (8) Provide for guarantees, pledges of property, letters of credit, or other security, or insurance for the benefit of bondholders; and (9) Provide for any other matter relating to the bonds that the Authority deems appropriate. (b) Any provisions under subsection (a) of this section that the Authority includes in a resolution or trust agreement may be made part of the contract with the holders of the bonds.

Md. Code, Financial Institutions § 13-1119

(a) A pledge by the Authority of revenues as security for an issue of bonds shall be valid and binding on and after the date when the documents evidencing the pledge are executed by the Authority. (b) (1) The revenues that the Authority pledges may be made immediately subject to the lien of the pledge without any physical delivery or further act. (2) The lien of any pledge of revenue is valid and binding against any person who has any claim in tort, contract, or otherwise against the Authority, whether or not the person has notice. (c) In order to perfect the lien on the revenue pledged by the Authority against third persons, a resolution, trust agreement or financing statement, continuation statement, or other instrument that the Authority adopts or enters into need not be filed or recorded in any public record other than the records of the Authority.

Md. Code, Financial Institutions § 13-1120

No member of the Authority nor any person executing the bonds of the Authority shall be liable personally on the bonds or subject to any personal liability by reason of the issuance of the bonds.

Md. Code, Financial Institutions § 13-1121

(a) The Authority may issue bonds to refund any of its bonds then outstanding, including the payment of any redemption premium and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase, or maturity of the bonds. (b) Refunding bonds may be issued in the discretion of the Authority and for any purpose authorized by this subtitle, including: (1) (i) For the public purposes of realizing savings in the effective costs of debt service, directly or through a debt restructuring; (ii) For alleviating impending or actual default; or (iii) For any other public purpose that the Authority determines is in the best interests of and consistent with the Authority’s long-term financing plan; (2) In one or more series; and (3) In an amount in excess of that of the bonds to be refunded.

Md. Code, Financial Institutions § 13-1122

(a) The Authority may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of, or as a security for, its bonds. (b) Any financial institution, investment company, insurance company or association, any personal representative, guardian, trustee, or other fiduciary, and any other public officer or unit of the State or a subdivision of the State may legally invest any money belonging to them or within their control in any bonds issued by the Authority.

Md. Code, Financial Institutions § 13-1123

Md. Code, Financial Institutions § 13-1124

(a) In this section, “aggrieved person” means: (1) A person that: (i) Is a party to a dispute that the Authority resolves under § 13-1108(4)(ii) of this subtitle; and (ii) Is aggrieved by the Authority’s final action in resolving the dispute under § 13-1108(4)(ii) of this subtitle; or (2) The local jurisdictions within a certified heritage area from which the Authority has withdrawn approval of a management plan under § 13-1111(p) of this subtitle. (b) This section does not apply to: (1) The failure of the Authority to designate: (i) A heritage area as a recognized heritage area; or (ii) A recognized heritage area as a certified heritage area through the approval of a management plan; (2) Actions taken by the Authority under its powers to issue bonds under Part IV of this subtitle; or (3) The failure of the Authority to award or enforce the terms of grants, loans, or other financing. (c) An aggrieved person may appeal to the Office of Administrative Hearings for a hearing in accordance with Title 10, Subtitle 2 of the State Government Article. (d) The decision of the Office of Administrative Hearings is the final administrative decision. (e) The Office of Administrative Hearings may not modify the Authority’s resolution of a dispute unless the aggrieved person shows by a preponderance of the evidence that: (1) The final action of the Authority was arbitrary or capricious; or (2) The Authority failed to follow its own procedures or regulations for resolving a dispute under § 13-1108(4)(ii) of this subtitle.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatutesFetched: 10/16/2026