HARRY HUGHES, Governor

3295

461.

(a) There is an Industrial and Commercial Redevelopment
Fund.

(e)  The fund shall be invested and reinvested in the same
manner as other State funds. Any investment earnings of the fund
shall be paid into the [State] General [Treasury] FUND OF THE
STATE.

(f)  On July 1 of each year, moneys in the fund in excess of
$15,000,000 shall be paid over to the [State] General [Treasury]
FUND OF THE STATE.

502.

(g)  The revenue bonds shall be sold by the Commission, at
public or private sale, in a manner and for a price as it
determines is for its best interests, but a sale may not be made
at a price so low as to require the payment of interest on the
money received therefor at more than 6 percent per annum,
computed with relation to the absolute maturity of the bonds in
accordance with standard tables of bond values. None of the
provisions of §§ 9, 10, and 11 of Article 31 of the Annotated
Code of Maryland OR §§ 8-206 AND 8-208 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE have any application to the bonds hereby
authorized and such bonds are explicitly exempted therefrom.

563.

(g) The bonds shall be sold by the Corporation, at public
or private sale, in such manner and for such price as it may
determine to be for its best interests. None of the provisions
of [§§ 9, 10, and 11 of Article 31 of the Code] §§ 8-206 AND
8-208 OF THE STATE FINANCE AND PROCUREMENT ARTICLE have any
application to the bonds hereby authorized and the bonds are
explicitly exempted from those provisions.

570.                                                 

(d) Property conveyed under this section may be insured
under [Article 95 of the Code] TITLE 9 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE.

571.

(a) Except as otherwise provided in this section, in
exercising its corporate powers, the Corporation is exempt from
the provisions of Articles 15A; 21; 41; 76A, § 10; and 78A of the
Code AND OF § 2-105, TITLE 2, SUBTITLES 2, 4, AND 5, TITLES 3 AND
4, TITLE 6, SUBTITLE 1, TITLE 7, SUBTITLES 1, 2, AND 3, §§ 8-127,
8-128, AND 8-129, PART V OF TITLE 8, SUBTITLE 1, AND TITLES 10
AND 21 OF THE STATE FINANCE AND PROCUREMENT ARTICLE, and may
carry out its corporate purposes without obtaining the consent of
any department, board, or agency of the State.