VETOES

BONDS AND THE EXPENDITURE AND INVESTMENT OF PROCEEDS THAT MAY BE
REQUIRED UNDER THE CODE.

(G) FOR PURPOSES OF DOING WHATEVER IS NECESSARY OR
APPROPRIATE FROM TIME TO TIME TO COMPLY WITH THE CODE AND TO
ESTABLISH OR MAINTAIN THE EXCLUSION FROM GROSS INCOME FOR FEDERAL
INCOME TAX PURPOSES OF INTEREST ON STATE BONDS, THE BOARD, THE
TREASURER, AND THE COMPTROLLER SHALL EACH:

(1)  TAKE ANY OTHER OR FURTHER ACTIONS;

(2)  ENTER INTO ANY AGREEMENT OR COVENANT REGARDING
THE USE OF PROCEEDS, INCLUDING ANY INVESTMENT EARNINGS ON
PROCEEDS, THE DEPOSIT OF MONEYS TO THE REBATE FUND AND THE MAKING
OF REBATE PAYMENTS; AND

(3)  PROVIDE CERTIFICATIONS OF FACTS AND ESTIMATES.

(H) THIS SECTION DOES NOT PREVENT THE BOARD FROM
AUTHORIZING THE ISSUANCE AND SALE OF STATE BONDS THE INTEREST ON
WHICH IS NOT EXCLUDABLE FROM GROSS INCOME FOR FEDERAL INCOME TAX
PURPOSES IF THE BOARD IN ITS AUTHORIZING RESOLUTION FINDS THAT TO
BE IN THE BEST INTERESTS OF THE STATE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is
declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety and having
been passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the General
Assembly, it shall take effect from the date of its passage.

June 2, 1987
The Honorable Thomas V. Mike Miller
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 1058.

This bill included certain employees of the Sheriff's Office
of Baltimore City in the State Merit System.

House Bill 1572, which was passed by the General Assembly
and signed by me on April 29, 1987, accomplishes the same

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