Ch. 583                                    1997 LAWS OF MARYLAND

GRANT, SHALL BE EXPENDED IN ACCORDANCE WITH THE COMMISSION'S ADOPTED
BUDGET, AS AMENDED FROM TIME TO TIME IN ACCORDANCE WITH THE BYLAWS OF
THE COMMISSION.

(4)     (3) (4) SUBJECT TO THE BUDGET AMENDMENT PROCEDURE
PROVIDED FOR IN § 7-209 OF THE STATE FINANCE AND PROCUREMENT ARTICLE, THE
COMMISSION MAY SPEND OR ENCUMBER, WITHIN THE FISCAL YEAR THEY ARE
RECEIVED OR ANY TIME THEREAFTER, ANY INCOME, REVENUES, OR OTHER FUNDS
RECEIVED IN EXCESS OF THOSE ESTIMATED BY THE COMMISSION IN THE CAPITAL
OR OPERATING BUDGET ADOPTED BY THE COMMISSION FOR THAT FISCAL YEAR.
NOTWITHSTANDING ANY OTHER LAW OR REGULATION, THE COMMISSION MAY
RECEIVE AND SPEND WITHOUT FURTHER APPROPRIATION ALL EARNED INCOME
FROM FEES, RENTS, OR OTHER CHARGES, AS WELL AS ANY GRANTS, GIFTS,
ENDOWMENTS, OR LEGACIES AND ALL EARNINGS THEREON.

(5)     ALL FUNDS RECEIVED, AND ANY INVESTMENT EARNINGS THEREON,
FROM FEES, RENTS, OR OTHER CHARGES, GRANTS, GIFTS, BEQUESTS,
ENDOWMENTS, AND LEGACIES SHALL BE DEPOSITED BY THE COMMISSION IN A
STATE OR FEDERALLY INSURED FINANCIAL INSTITUTION AND THEREAFTER SHALL
BE INVESTED FOR THE BENEFIT OF HISTORIC ST. MARY'S CITY IN ACCORDANCE
WITH THE WRITTEN INVESTMENT POLICIES OF THE COMMISSION AND ANY TERMS
OR CONDITIONS OF A GRANT, GIFT, BEQUEST, ENDOWMENT, OR LEGACY.

(E) (1) IN ADDITION TO THE DUTIES SET FORTH ELSEWHERE IN THIS
SUBTITLE, THE COMMISSION SHALL:

(I) MAKE PROVISION, EITHER BY STAFF OR CONTRACT, FOR A
SYSTEM OF FINANCIAL ACCOUNTING, CONTROLS, AUDITS AND REPORTS,
CONSISTENT WITH SOUND BUSINESS PRACTICES USING GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES; AND

(II) CAUSE AN AUDIT BY AN INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANT TO BE MADE OF THE ACCOUNTS AND TRANSACTIONS OF THE
COMMISSION AT THE CONCLUSION OF EACH FISCAL YEAR.

(2) THE BOOKS, RECORDS, ACCOUNTS, AND TRANSACTIONS OF THE
COMMISSION ARE SUBJECT TO AUDIT BY THE OFFICE OF LEGISLATIVE AUDITS OF
THE DEPARTMENT OF FISCAL SERVICES.

24-512.

(A) NOTWITHSTANDING THE PROVISIONS OF TITLE 10, SUBTITLE 3 OF. THE
STATE FINANCE AND PROCUREMENT ARTICLE, THE COMMISSION MAY SELL,
CONVEY, ASSIGN, LEASE, MORTGAGE, ENCUMBER, OR OTHERWISE TRANSFER OR
DISPOSE OF ANY REAL PROPERTY ACQUIRED OR HELD BY IT OR HELD BY THE
STATE OR AN AGENCY OF THE STATE FOR THE BENEFIT OF HISTORIC ST. MARY'S
CITY, AND ENTER INTO ANY CONTRACTS INCIDENT THERETO, FOR SUCH TERM AND
SUCH CONDITIONS AS THE COMMISSION DEEMS APPROPRIATE, EXCEPT:

(1) REAL PROPERTY VALUED IN EXCESS OF $5,000.00 MAY NOT BE SOLD
WITHOUT THE PRIOR APPROVAL OF THE BOARD OF PUBLIC WORKS; AND

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