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HARRY HUGHES, Governor 2411
(E) ADDITIONS TO FUND. - IF THE AUTHORITY AND THE SECRETARY
FIND THAT MORE MONEY IS NEEDED TO KEEP THE RESERVES OF THE BOND
INSURANCE FUND AT AN ADEQUATE LEVEL, THE AUTHORITY, WITH THE
CONSENT OF THE SECRETARY, SHALL SEND A WRITTEN REQUEST TO THE
BOARD OF PUBLIC WORKS FOR ADDITIONAL MONEY, THE BOARD OF PUBLIC
WORKS MAY PAY THE REQUESTED AMOUNT FROM ITS EMERGENCY FUND.
(F) EXCESS FUNDS. - IF AT ANY TIME THE AMOUNT OF MONEY
CREDITED TO THE BOND INSURANCE FUND EXCEEDS THE AMOUNT THAT THE
AUTHORITY CONSIDERS NECESSARY TO MEET ITS OBLIGATIONS UNDER THIS
SUBTITLE, AND TO MEET THE REQUIREMENTS OF THIS SUBTITLE, THE
AUTHORITY MAY DETERMINE, WITH THE CONSENT OF THE SECRETARY, TO
PAY THE EXCESS MONEYS TO THE STATE TREASURER.
13-121.
(A) CREATED. - THERE IS AN AUTHORIZED PURPOSE INSURANCE
FUND.
(B) COMPOSITION. - THE AUTHORIZED PURPOSE INSURANCE FUND IS
A CONTINUING, NONLAPSING, REVOLVING FUND THAT CONSISTS OF:
(1) MONEYS APPROPRIATED BY THE STATE TO THE
AUTHORIZED PURPOSE INSURANCE FUND;
(2) PREMIUMS, FEES, AND ANY OTHER AMOUNTS RECEIVED BY
THE AUTHORITY WITH RESPECT TO FINANCIAL ASSISTANCE PROVIDED BY
THE AUTHORITY FROM THE AUTHORIZED PURPOSE INSURANCE FUND;
(3) PROCEEDS AS DESIGNATED BY THE AUTHORITY FROM THE
SALE, LEASE, OR OTHER DISPOSITION OF PROPERTY HELD OR ACQUIRED BY
THE AUTHORITY; AND
(4) INCOME FROM INVESTMENTS THAT THE STATE TREASURER,
ON INSTRUCTION OF THE AUTHORITY, MAKES FROM MONEYS IN THE
AUTHORIZED PURPOSE INSURANCE FUND.
(C) USE OF FUND. - THE AUTHORIZED PURPOSE INSURANCE FUND
SHALL BE USED:
(1) FOR THE PURPOSES DESCRIBED IN § 13-131 OF THIS
SUBTITLE; AND
(2) TO PAY ANY AND ALL EXPENSES OF THE AUTHORITY,
INCLUDING, BY WAY OF EXAMPLE:
(I) ANY AND ALL EXPENSES FOR ADMINISTRATIVE,
LEGAL, ACTUARIAL, AND OTHER SERVICES; AND
(II) ALL COSTS, CHARGES, FEES, AND EXPENSES OF
THE AUTHORITY RELATED TO THE AUTHORIZING, PREPARING, PRINTING,
SELLING, ISSUING AND INSURING OF AUTHORIZED PURPOSE OBLIGATIONS,
(INCLUDING, BY WAY OF EXAMPLE, AUTHORIZED PURPOSE OBLIGATIONS,
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