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Ch. 73
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564
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LAWS OF MARYLAND
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(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,
THE PROCEEDS OF WHICH ARE USED TO REFINANCE OR REFUND OUTSTANDING
AUTHORIZED PURPOSE OBLIGATIONS) AND THE FUNDING OF RESERVES.
(D) INVESTMENTS. - MONEYS IN THE AUTHORIZED PURPOSE
INSURANCE FUND, TO THE EXTENT THAT SUCH MONEYS EXCEED THE AMOUNT
THAT THE AUTHORITY CONSIDERS NECESSARY TO MEET ITS CURRENT
EXPENSES AND OBLIGATIONS, SHALL BE DEPOSITED WITH THE STATE
TREASURER AND INVESTED AND REINVESTED IN THE SAME MANNER AS OTHER
STATE FUNDS, AND ANY INVESTMENT EARNINGS SHALL BE PAID INTO THE
AUTHORIZED PURPOSE INSURANCE FUND. ANY NET EARNINGS OF THE
AUTHORIZED PURPOSE INSURANCE FUND, BEYOND THOSE NECESSARY TO
FURTHER OR IMPLEMENT THE PURPOSES OF THIS SUBTITLE, MAY NOT INURE
TO THE BENEFIT OF ANY PERSON OTHER THAN THE STATE.
(E) ADDITIONS TO FUND. - IF THE AUTHORITY AND THE SECRETARY
FIND THAT MORE MONEY IS NEEDED TO KEEP THE RESERVES OF THE
AUTHORIZED PURPOSE 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 AUTHORIZED PURPOSE 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:
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