2032

LAWS OF MARYLAND

Ch. 497

INCLUDE THEIR RECOMMENDATIONS AS TO WHAT ACTIONS ARE
NECESSARY TO MAKE POSSIBLE FUTURE UNQUALIFIED OPINIONS.

(B) THE BOOKS, RECORDS, AND ACCOUNTS OF THE AUTHORITY
ARE SUBJECT TO AUDIT BY THE STATE. ANY OFFICER OR EMPLOYEE
WHO REFUSES TO GIVE THE REQUIRED ASSISTANCE AND INFORMATION
TO THE ACCOUNTANT SELECTED BY THE AUTHORITY OR BY THE STATE
OR WHO REFUSES TO SUBMIT TO THEM FOR EXAMINATION THE BOOKS,
DOCUMENTS, RECORDS, FILES, ACCOUNTS, PAPERS, OR THINGS THAT
ARE PROPERLY REQUIRED FOR THE AUDIT IN THE DISCRETION OF THE
AUTHORITY, MAY BE REQUIRED TO FORFEIT HIS OR HER OFFICE OR
EMPLOYMENT.

(C) (B) THE AUTHORITY ADMINISTRATION SHALL PREPARE AN
ANNUAL REPORT BY DECEMBER 1 FOR THE GOVERNOR AND THE GENERAL
ASSEMBLY FOR THE PRECEDING STATE FISCAL YEAR. THE REPORT
SHALL CONTAIN A SUMMARY OF THE ENERGY PROJECTS THAT OBTAINED
FINANCIAL ASSISTANCE FROM THE AUTHORITY ADMINISTRATION AND,
FOR EACH PROJECT OR CLASS OF PROJECTS, THE ESTIMATED ENERGY
SAVINGS AND ENERGY SUPPLY ADDITIONS. THE REPORT SHALL ALSO
LIST THE SOURCE AND AMOUNT OF ANY CONTRIBUTION, GIFT, OR
OTHER DONATION RECEIVED BY THE AUTHORITY ADMINISTRATION.
EACH REPORT SHALL SET FORTH THE COMPLETE OPERATING AND
FINANCIAL STATEMENT COVERING THE OPERATIONS OF THE AUTHORITY
ADMINISTRATION DURING THE FISCAL YEAR AND SHALL INCLUDE THE
RESULTS OF THE AUDIT PERFORMED UNDER SUBSECTION (A) OF THIS
SECTION.

(D) ALL PURCHASES, INCLUDING CONTRACTS AND ORDERS FOR
MATERIALS, SERVICES, AND SUPPLIES SHALL BE AWARDED IN
ACCORDANCE WITH RULES AND REGULATIONS ADOPTED IN ACCORDANCE

WITH THE ADMINISTRATIVE PROCEDURE ACT. THE RULES AND

REGULATIONS SHALL PROVIDE, WITH RESPECT TO CONTRACTS AND
ORDERS INVOLVING THE EXPENDITURE OF MORE THAN $10,000, FOR
AWARD BY RESOLUTION OF THE AUTHORITY AFTER COMPETITIVE
BIDDING. THE AWARDS, RULES, AND REGULATIONS NEED NOT BE
APPROVED BY ANY OTHER BOARD, AGENCY, OR DEPARTMENT OF THE
STATE. THE AUTHORITY SHALL BE EXEMPT FROM THE PROVISIONS OF
ARTICLE 21 OF THE CODE.

(E) TO THE EXTENT PERMITTED BY LAW, (C) THE INTEREST
RATE ON LOAN PROGRAMS OF THE AUTHORITY ADMINISTRATION,
TOGETHER WITH OTHER MONEYS REASONABLY EXPECTED TO BE
AVAILABLE TO THE ADMINISTRATION, SHALL BE SUFFICIENT TO MAKE
THE LOAN PROGRAMS SELF SUPPORTING. THE DETERMINATION OF THE
INTEREST RATE SHALL TAKE INTO ACCOUNT THE EXPENSES OF
ADMINISTRATION, INCLUDING PAYMENTS REQUIRED BY MORTGAGE
DEFAULTS AND EXPENSES FOR ADMINISTRATIVE, LEGAL, ACTUARIAL,
AND OTHER SERVICES, ALLOWANCE FOR LOSSES, AND THE ACTUAL OR
IMPUTED INTEREST COST OF FUNDS, AND LESS ANY PAYMENTS OR
SUBSIDIES RECEIVED BY THE AUTHORITY ADMINISTRATION FOR THE
ADMINISTRATION OF ANY LOAN PROGRAM.

(F) ALL APPROPRIATIONS AND REVENUES TO THE AUTHORITY
SHALL BE DEPOSITED IN CONTINUING, NONLAPSING SPECIAL FUNDS.
THE INTEREST OR INCOME FROM ANY INVESTMENT OR DEPOSIT OF ANY
FUND OR FUNDS BY THE TREASURER SHALL BE AND BECOME A PART OF