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Ch. 511
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LAWS OF MARYLAND
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1576
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structures, and the financing of such housing for county
residents;
(3) (2) EXERCISE OTHER FUNCTIONS AND
RESPONSIBILITIES REQUIRED BY THE COUNTY, INCLUDING COMMUNITY
DEVELOPMENT; and [to]
(4) (3) [acquire] 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.
[(c)] (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,
or housing project 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 financed with
the proceeds of such bonds, or with such proceeds together with a
grant from the federal government in aid of such project; (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 revenues or a mortgage of any housing project,
projects, or other property of the Authority.
[(d)] (G) For purposes of this section, the phrase
"housing, housing rehabilitation, or housing project" means any
undertaking or project, or portion thereof, including lands,
buildings and improvements, real, nixed and personal properties
or interest therein that is planned, acquired, owned, developed,
constructed, reconstructed, rehabilitated, or improved for
purposes of providing dwelling accommodations, and such streets,
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