Article - Economic Development
(a) In this subtitle the following words have the meanings indicated.
(b) “Administration” means the Maryland Energy Administration.
(c) “Board” means the Board of Directors of the Center.
(d) (1) “Bond” means a bond issued by the Center under this subtitle.
(2) “Bond” includes a revenue bond, a revenue refunding bond, a note, and any other obligation, whether a general or limited obligation of the Center.
(e) “Center” means the Maryland Clean Energy Center.
(f) “Clean energy” includes:
(1) solar photovoltaic technology;
(2) solar heating;
(7) other qualifying biomass as defined in § 7–701 of the Public Utilities Article;
(8) ocean, including energy from waves, tides, currents, and thermal differences;
(9) a fuel cell that produces energy from biofuels, ethanol, or other qualifying biomass;
(10) energy efficiency and conservation;
(11) any other technology or service that the Center determines will contribute directly or indirectly to the production of energy from renewable or sustainable sources, or to the improvement of efficiency in the use of energy; and
(12) deployment of any of the technologies or services listed in items (1) through (11) of this subsection.
(g) “Cost”, with respect to a project financed under this subtitle, includes:
(1) the purchase price of a project;
(2) the cost to acquire any right, title, or interest in a project;
(3) the cost of any improvement;
(4) the cost of any property, right, easement, and franchise;
(5) the cost of demolition, removal, or relocation of structures;
(6) the cost of acquiring land to which the structures may be moved;
(7) the cost of equipment;
(8) financing charges;
(9) interest before and during construction and, if the Center determines, for a limited period after the completion of construction;
(10) reserves for principal and interest and for improvements;
(11) the cost of revenue and cost estimates, architectural, engineering, financial, and legal services, plans, specifications, studies, surveys, and other expenses necessary or incident to determining the feasibility of improving a project; and
(12) other expenses as necessary or incident to:
(i) financing a project;
(ii) acquiring and improving a project; and
(iii) placing a project in operation.
(h) “Director” means the Director of the Administration.
(i) “Executive Director” means the Executive Director of the Maryland Clean Energy Center.
(j) “Finance” includes refinance.
(k) “Governmental unit” means:
(1) a county;
(2) a municipal corporation;
(3) a State unit;
(4) a local unit; or
(5) any other public body or unit established in accordance with a State or local law, ordinance, or resolution.
(l) “Improve” means to add, alter, construct, equip, expand, extend, improve, install, reconstruct, rehabilitate, remodel, or repair.
(m) “Improvement” means addition, alteration, construction, equipping, expansion, extension, improvement, installation, reconstruction, rehabilitation, remodeling, or repair.
(n) (1) “Project” means any property, the acquisition or improvement of which the Board, in its sole discretion, determines by resolution will accomplish at least one of the purposes listed in § 10–802(b) of this subtitle, whether or not the property:
(i) is or will be used or operated for profit or not for profit;
(ii) is or will be located on a single site or multiple sites; or
(iii) may be financed by bonds, the interest on which is exempt from income taxation under federal law.
(2) “Project” includes:
(i) land or an interest in land;
(ii) structures, equipment, furnishings, rail or motor vehicles, barges, and boats;
(iii) property and rights related to property, appurtenances, rights–of–way, franchises, and easements;
(iv) property that is functionally related and subordinate to a project; and
(v) patents, licenses, and other rights necessary or useful in the improvement or operation of a project.
(o) (1) “Revenues” means the income, revenue, and other money the Center receives from or in connection with a project, and all other income of the Center.
(2) “Revenues” includes grants, rentals, rates, fees, and charges for the use of the services furnished or available.
(p) (1) “Trust agreement” means an agreement entered into by the Center to secure a bond.
(2) “Trust agreement” may include a bond contract, bond resolution, or other contract with or for the benefit of a bondholder.