(a) The Director of the Department of Finance must create an Economic Development Fund. This Fund is continuing and non-lapsing.
(b) The Fund consists of:
(1) all funds appropriated to it by the County Council;
(2) all payments on any loan from the Fund;
(3) all interest earned on funds in the Fund; and
(4) all funds received from any other public or private entity. (1995 L.M.C., ch. 29, § 1.)
Editor’s note—See County Attorney Opinion dated 12/21/99 indicating that the Maryland Economic Development Corporation (MEDCO) may be appointed as the agent of the County Department of Economic Development to carry out a variety of tasks, but loan payments must be made to the Economic Development Fund.