Md. Code, Env't § 9-424
Md. Code, Env't § 9-424
Maryland · Maryland Code, Environment · Status: effective
Cite this
- Citation
- Md. Code, Env't § 9-424, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1769909
- Permanent ID
ys:prov:1769909@1- SHA-256
c4c62506e06b222332bb0b22c46f8f639b85259955177bd287189a0145590e8a
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A loan guarantee of the principal of or interest on any commercial loan or obligation to finance the eligible cost of a project under this subtitle may only be made if the applicant certifies that it is unable to obtain on reasonable terms sufficient credit to finance its actual needs without the guarantee and if the Board of Public Works determines that there is a reasonable assurance of repayment of the loan obligation.
(b) A loan guarantee may not exceed $500,000 for each project or part of a project in any calendar year unless the Board of Public Works determines that extraordinary circumstances exist.