§ 26.202. Definitions.

(a)

Budget means the annual operating budget approved by the County Council pursuant to article VI of the Howard County Charter.

(b)

Authority means the Howard County Economic Development Authority.

(c)

County Executive means the County Executive of Howard County or the County Executive's designee.

(d)

Sponsor means an organization which:

(1)

The Internal Revenue Service has qualified as exempt under subsection 501(c)(3) of the Internal Revenue Code;

(2)

Has a primary goal of promoting and advancing economic growth and employment opportunities in Howard County;

(3)

Operates a grant and/or loan program in Howard County for small businesses and start-up businesses which cannot qualify for commercial bank loans; and

(4)

Funds its grant and/or loan program substantially with private funds.

(C.B. 100, 1992; C.B. 7, 1993)