HARRY HUGHES, Governor

2043

THE INTEREST, INCOME, AND PROFITS, IF ANY, EARNED OR
REALIZED ON THE INVESTMENT AND REINVESTMENT OF THE AMOUNTS
HELD IN ESCROW MAY BE RETURNED TO THE AUTHORITY
ADMINISTRATION FOR USE BY IT IN ANY LAWFUL MANNER.

(D) THE PORTION OF THE PROCEEDS OF ANY BONDS ISSUED
FOR THE ADDITIONAL PURPOSE OF PAYING ALL OR ANY PART OF THE
COST OF ALL OR ANY PORTION OF AN ENERGY PROJECT MAY BE
INVESTED AND REINVESTED IN OBLIGATIONS OF OR GUARANTEED BY
THE UNITED STATES OF AMERICA, OR IN CERTIFICATES OF DEPOSIT
SECURED BY OBLIGATIONS OF OR GUARANTEED BY THE UNITED STATES
OF AMERICA, MATURING NOT LATER THAN THE TIME OR TIMES WHEN
THE PROCEEDS WILL BE NEEDED FOR THE PURPOSE OF PAYING ALL OR
ANY PART OF THE COST. THE INTEREST, INCOME AND PROFITS, IF
ANY, EARNED OR REALIZED ON THE INVESTMENT OF THAT PORTION OF
THE PROCEEDS MAY BE APPLIED TO THE PAYMENT OF ALL OR ANY
PART OF THE COST OR MAY BE USED BY THE AUTHORITY
ADMINISTRATION IN ANY LAWFUL MANNER.

13-112. 527.

BY RESOLUTION, THE AUTHORITY UPON A DETERMINATION OF
THE ADMINISTRATION AS APPROVED BY THE SECRETARY, THE
ADMINISTRATION ALSO MAY:

(1)  TO ISSUE, PRIOR TO THE PREPARATION OF
DEFINITIVE BONDS, INTERIM RECEIPTS OR TEMPORARY BONDS, WITH
OR WITHOUT COUPONS, EXCHANGEABLE FOR DEFINITIVE BONDS WHEN
THE BONDS HAVE BEEN EXECUTED AND ARE AVAILABLE FOR DELIVERY;

(2)  ISSUE AND SELL ITS REVENUE BONDS IN THE
NATURE OF INDUSTRIAL DEVELOPMENT BONDS, FOR THE PURPOSE OF
BORROWING MONEY TO LEND TO ANY PERSON FOR THE ACCOMPLISHMENT
BY THAT PERSON OF AN ENERGY PROJECT OR PROJECTS TO PROVIDE
FINANCIAL ASSISTANCE FOR ANY PURPOSE PERMITTED UNDER THIS
SUBTITLE. THE PRINCIPAL OF AND INTEREST ON SUCH BONDS MAY
BE MADE PAYABLE TO THE BEARER OR REGISTERED HOLDER THEREOF
OUT OF:

(I)  THE REVENUES RECEIVED BY THE AUTHORITY
ADMINISTRATION FROM THE PERSON OR OTHERWISE RECEIVED IN
CONNECTION WITH THE PROJECT;

(II)  ANY PROPERTY PLEDGED OR MORTGAGED AS
SECURITY FOR THE BONDS; OR

(III)  ANY OTHER SOURCES DESIGNATED BY THE
AUTHORITY ADMINISTRATION.

THE AUTHORIZING RESOLUTION ADMINISTRATION, IN ITS
DETERMINATION, MAY MAKE PROVISION FOR THE ISSUANCE OF SUCH
BONDS IN SERIES OF BONDS AS FUNDS ARE REQUIRED. THE
ISSUANCE OF SUCH BONDS AND THE DETAILS OF BONDS, THE RIGHTS
OF THE HOLDERS OF THE BONDS, AND THE RIGHTS, DUTIES, AND
OBLIGATIONS OF THE AUTHORITY ADMINISTRATION IN RESPECT TO
THE BONDS SHALL BE GOVERNED BY THE PROVISIONS OF THIS TITLE
SUBTITLE RELATING TO BONDS AUTHORIZED BY § 13-116 524 OF