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Ch. 305 2000 LAWS OF MARYLAND
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(12) Adopt rules and regulations necessary to carry out the purposes of
this subtitle;
(13) Authorize the chairman, vice chairman, or executive director of the
Authority, on behalf of the Authority, to perform any duty, and specify, prescribe,
determine, provide for or approve such matters, details, forms, documents, or
procedures as the Authority, in its sole and absolute discretion, deems appropriate to
accomplish the purposes of this subtitle; AND
(14) [With the approval of the Secretary, exercise any or all of the powers,
duties and authority of the Secretary, in accordance with Title 6, Subtitle 4 of this
article, relating to the Maryland Energy Financing Administration; and
(15) ] Do anything necessary or convenient to carry out its powers and the
purposes of this subtitle.
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[Part III. Insurance Funds.]
5-914.
(a) There is [a] AN [Bond Insurance] INDUSTRIAL DEVELOPMENT Fund
which replaces the Authority's [Industrial Project Insurance] BOND INSURANCE
Fund, THE AUTHORITY'S AUTHORIZED PURPOSE INSURANCE FUND, THE
DEPARTMENT'S DAY CARE FACILITIES LOAN GUARANTEE FUND, AND THE
MARYLAND ENTERPRISE INCENTIVE DEPOSIT FUND. Moneys on deposit in the
Authority's [Industrial Project Insurance] BOND INSURANCE Fund, THE
AUTHORITY'S AUTHORIZED PURPOSE INSURANCE FUND, THE DEPARTMENT'S DAY
CARE FACILITIES LOAN GUARANTEE FUND, AND THE MARYLAND ENTERPRISE
INCENTIVE DEPOSIT FUND shall be transferred to the [Bond Insurance] INDUSTRIAL
DEVELOPMENT Fund on July 1, [1983] 2000.
(b) The [Bond Insurance] INDUSTRIAL DEVELOPMENT Fund is a continuing,
nonlapsing, revolving fund that consists of:
(1) Moneys appropriated by the State to the [Bond Insurance]
INDUSTRIAL DEVELOPMENT Fund;
(2) Premiums, fees, and any other amounts received by the Authority
with respect to financial assistance provided by the Authority from the [Bond
Insurance] INDUSTRIAL DEVELOPMENT Fund;
(3) Proceeds as designated by the Authority from the sale, lease, or other
disposition of property held or acquired by the Authority;
(4) INTEREST RECEIVED FROM LINKED DEPOSITS MADE FROM THE
LINKED DEPOSIT FUND;
[(4)] (5) Income from investments that the State Treasurer, on
instruction of the Authority, makes from moneys in the [Bond Insurance]
INDUSTRIAL DEVELOPMENT Fund; and
[(5)] (6) Any other moneys made available under this subtitle.
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- 1794 -
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