Section 12: Expenditure of the Agency.

The Agency may, from time to time, apply the proceeds of the funds established in pursuance of Section 11 of this Act:(a) to the cost of administration of the Agency;
(b) to the paying of the emoluments, allowances and benefits of members of the Governing Board and for reimbursing members of the Governing Board or of any committee set up by the Governing Board for such expenses as may be expressed or authorized by the Governing Board;
(c) to the payment of the salaries, fees or other remuneration or allowances, gratuities and pensions, and other benefits payable to the officers and other employees of the Agency, so, however that no payment of any kind under this paragraph (except such as may be expressly authorized by the Agency) shall be made to any person who is in receipt of emoluments from the Federal or a State Government;
(d) for the development and maintenance of any property vested in or owned by the Agency; and
(e) for and in connection with all or any of its functions under this Act.