When bonds are issued by the Authority, it is in the interest of the public welfare and purpose that the Authority attempt to achieve a goal that 10 percent of the facility users are minority business enterprises within the meaning indicated in the State Finance and Procurement Article, §18-601, Annotated Code of Maryland. The failure to achieve the goal, however, may not affect in any way the:

1. A. Validity or enforceability of any bonds issued by the Authority;
2. B. Validity of any finding or determination by the Authority under the MIDFA Act; or
3. C. Validity or enforceability of any agreement entered into by the Authority under the MIDFA Act.

Authority: Economic Development Article,§2-108, Title 5, Subtitle 4, and Title 12, Subtitle 1, Annotated Code of Maryland

Effective date: April 16, 1990 (17:7 Md. R. 853)

Regulation .16 adopted effective April 15, 1991 (18:7 Md. R. 775)