(a) Property of an authority is public property devoted to an essential public and governmental function and purpose.
(b) Income of an authority is received for a public and governmental purpose.
Structure Maryland Statutes
Division I - Definitions; General Provisions
Title 1 - Definitions; General Provisions
Subtitle 14 - Establishment of Land Bank Authorities
Section 1-1402 - Construction of Subtitle
Section 1-1403 - Land Bank Authority
Section 1-1404 - Board of Directors
Section 1-1407 - Staff and Consultants
Section 1-1408 - Appointment of Receiver
Section 1-1409 - Internal Administration
Section 1-1411 - Property Rights
Section 1-1412 - Property -- Inventory and Classification; Fee
Section 1-1413 - Outstanding Tax Liens
Section 1-1414 - Money and Proceeds
Section 1-1415 - State and Local Taxes
Section 1-1417 - Public Property
Section 1-1421 - Trust Agreement
Section 1-1422 - Conclusive and Binding Determination of Authority
Section 1-1424 - Liability; Full Faith and Credit
Section 1-1425 - Rates, Rents, and Fees
Section 1-1426 - Pledge of Revenue
Section 1-1428 - Refunding Bonds
Section 1-1429 - Bond Anticipation Notes
Section 1-1430 - Conveyance of Title and Release of Collateral