Section 4-244 - Powers of Administration. - Maryland Statutes

§ 4-244. Powers of Administration.
 

(a)  In general.- The Administration may provide financial assistance, meet any development cost, or carry out any other of its purposes by spending: 

(1) money appropriated by the General Assembly; 

(2) the proceeds of a State loan to the extent provided by the General Assembly or a governmental unit authorized to issue bonds; 

(3) the proceeds of the bonds, notes, or other evidences of indebtedness that the Administration issues, payable solely from revenues of the Administration as provided in this part; or 

(4) any other money available to the Administration for community development under this subtitle: 

(i) from its own operations; 

(ii) from investment of the proceeds of its bonds, notes, or other indebtedness; or 

(iii) from any other public or private source. 

(b)  Surplus money.-  

(1) Except as otherwise provided in a determination made under this section, the Administration shall deposit with the State Treasurer any money that it does not need to meet current expenses and obligations. 

(2) The State Treasurer shall: 

(i) credit the money to the Administration; 

(ii) invest the money as provided by statute; and 

(iii) credit earnings from the money to the Administration. 
 

[An. Code 1957, art. 83B, § 2-206(a), (b); 2005, ch. 26, § 2.]