(a) (1) With the approval of the Secretary, the Administration may act as agent of any political subdivision to:
(i) Accept, receive, receipt for, disburse, or spend any federal or other public or private money made available to finance, wholly or partly, the establishment or operation of an airport, airport facility, or air navigation facility; and
(ii) Contract for and supervise the establishment or operation of the airport or facility.
(2) Each political subdivision may designate the Administration as its agent for any purpose of this subsection.
(b) All federal money accepted under this section shall be accepted and transferred or spent by the Administration on the terms and conditions that the federal government requires.
(c) Any political subdivision and, with the approval of the Secretary, the Administration, as principal for this State, may contract with each other, the federal government, or any other person to the extent required for a grant or loan of federal money for an airport, airport facility, or air navigation facility.
(d) (1) All money received by the Administration under this section:
(i) Shall be deposited in the State Treasury; and
(ii) Unless otherwise required by the person from whom the money was received, shall be kept in a separate fund designated for the purpose for which the money was made available and shall be held by this State in trust for that purpose.
(2) This money is not part of the Transportation Trust Fund and is not subject to § 3-216 of this article.