Maryland Department of Business and Economic Development Section 5-1018

      (a)      All of the following receipts of the Authority shall be placed in the Guaranty Fund:

            (1)      Loans and grants from the federal government and any of its agencies and instrumentalities;

            (2)      Grants and contributions of funds from any political subdivision or government organization of the State or from any other source;

            (3)      Premiums for guaranteeing long-term loans pursuant to § 5-1029 of this subtitle;

            (4)      Proceeds from the sale, disposition, lease, or rental of collateral by the Authority relating to loans guaranteed pursuant to § 5-1029 of this subtitle;

            (5)      Income from investments allocable to the Guaranty Fund that the State Treasurer, on instruction of the Authority, makes for the Authority under § 5-1019 of this subtitle.

      (b)      The Authority shall use the Guaranty Fund to pay the following expenses and disbursements of the Authority:

            (1)      Guaranty payments required by defaults pursuant to § 5-1029 of this subtitle;

            (2)      Interest subsidy payments pursuant to § 5-1029 of this subtitle; and

            (3)      Expenses for administrative, legal, actuarial and other services.