Current with changes from the 2024 Legislative Session
Section 4-244 - Powers of Administration(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.