Maryland Code, STATE FINANCE AND PROCUREMENT 6-224
Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 6-224
- including: means includes or including by way of illustration and not by way of limitation. See
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) there is a commitment of federal funds for the project;
(2) the Service has not received the federal funds;
(3) the amount of the investment does not exceed the federal commitment; and
(4) as to any investment or reinvestment that exceeds $500,000, the Board of Public Works approves the investment or reinvestment.
(b) The Treasurer shall set the conditions of the investment or reinvestment, including the term, the interest rate, and any service charge.
(c) The Maryland Environmental Service shall repay the investment or reinvestment when the term that the Treasurer sets ends or, if sooner, when the Service receives the final federal funds.