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PARRIS N. GLENDENING, Governor Ch. 393
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(ii) The date that the foster care recipient is awarded a Bachelor's
degree.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2002.
Approved May 6, 2002.
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CHAPTER 393
(House Bill 828)
AN ACT concerning
Academic Facilities Bonding Authority
FOR the purpose of increasing the bonding authority for the University System of
Maryland and Morgan State University; approving certain projects for the
acquisition, development, and improvement of certain academic facilities for the
University System of Maryland and Morgan State University; requiring certain
information be provided to certain committees of the General Assembly with a
certain review and comment period before funds may be expended for certain
projects; and approving the issuance of bonds by the University System of
Maryland and Morgan State University for financing the projects.
BY repealing and reenacting, with amendments,
Article - Education
Section 19-102(c)(1)
Annotated Code of Maryland
(2001 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Education
19-102.
(c) (1) Except as provided in paragraph (3) of this subsection, the aggregate
principal amount of bonds outstanding and the present value of capital lease
payments, less the amount of any reserve fund or sinking fund requirement
established for the bonds or capital leases, may not exceed, as of the date of issue of
the bonds, the following:
(i) [$875,000,000] $975,000,000 for the University System of
Maryland;
(ii) $65,000,000 $77,000,000 for Morgan State University;
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(iii) $45,000,000 for St. Mary's College of Maryland; and
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- 3053 -
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