Ch. 330 LAWS OF MARYLAND

(2) EXERCISE OTHER FUNCTIONS AND RESPONSIBILITIES
REQUIRED BY THE COUNTY, INCLUDING COMMUNITY DEVELOPMENT;

AND

(3) ACQUIRE AND EXPEND PUBLIC FUNDS FOR SUCH
PURPOSES; PROVIDED, HOWEVER, THAT THE EXERCISE OF ALL POWERS
OF THE HOUSING AUTHORITY IS PURSUANT TO AND IN ACCORDANCE
WITH LOCAL LAW ENACTED BY PRINCE GEORGE'S COUNTY OR A
CONTRACT OR CONTRACTS WITH PRINCE GEORGE'S COUNTY.

(D) AS REQUIRED BY THE COUNTY, THE HOUSING AUTHORITY OF
PRINCE GEORGE'S COUNTY SHALL ISSUE AN ANNUAL FINANCIAL
REPORT FOR THE PREVIOUS FISCAL YEAR BASED ON A CERTIFIED
AUDIT.

(E) PRINCE GEORGE'S COUNTY BY LOCAL LAW MAY REQUIRE THE
HOUSING AUTHORITY OF PRINCE GEORGE'S COUNTY TO COMPLY WITH
BUDGETARY, FINANCIAL, PERSONNEL, AND ETHICS PROCEDURES OF
THE COUNTY.

(F) WITH THE APPROVAL OF THE COUNTY GOVERNING BODY, THE
HOUSING AUTHORITY OF PRINCE GEORGE'S COUNTY WITHIN ITS AREA
OF OPERATION ALSO HAS THE FOLLOWING POWERS:

(1) TO MAKE CONSTRUCTION LOANS AND LONG-TERM
MORTGAGE LOANS TO ANY PERSON, FIRM, PARTNERSHIP, ASSOCIATION,
JOINT VENTURE, OR PRIVATE OR PUBLIC CORPORATION TO PRODUCE
HOUSING UNDER THE PROVISIONS OF THIS SECTION;

(2) TO PURCHASE AND TO INSURE MORTGAGES SECURED BY
SUCH HOUSING;

(3) TO FINANCE ANY HOUSING, HOUSING REHABILITATION,
HOUSING PROJECT, OR CONTINUING CARE FACILITY AUTHORIZED BY
THIS SECTION BY ISSUING AND SELLING SUCH TYPES OF BONDS AS IT
MAY DETERMINE, INCLUDING BONDS ON WHICH THE PRINCIPAL AND
INTEREST ARE PAYABLE:

(I) EXCLUSIVELY FROM THE INCOME AND REVENUES OF
THE HOUSING PROJECT OR CONTINUING CARE FACILITY FINANCED
WITH THE PROCEEDS OF SUCH BONDS, OR WITH SUCH PROCEEDS
TOGETHER WITH A GRANT FROM THE FEDERAL GOVERNMENT IN AID
OF SUCH PROJECTS;

(II) EXCLUSIVELY FROM THE INCOME AND REVENUES OF
CERTAIN DESIGNATED HOUSING PROJECTS WHETHER OR NOT THEY
WERE FINANCED IN WHOLE OR IN PART WITH THE PROCEEDS OF SUCH
BONDS; OR

(III) FROM ITS REVENUES GENERALLY. ANY OF SUCH
BONDS MAY BE SECURED ADDITIONALLY BY PLEDGE OF ANY

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