Maryland Code § HS-4-244

Section HS-4-244
Open in Lexace · Ask the AI about this section
(a) 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) (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.

‹ Prev All Maryland sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.