CREDIT LIMITATIONS

Section 7.10. Credit Limitations of Local Governments.

The assets or credit of a unit of local government may be given
or lent to any individual, association, or corporation only if a
public purpose will be served thereby, and then subject to any
other restrictions prescribed by law. The act of the governing
body making the gift or loan shall state the public purpose
to be served, and no gift of credit or loan of credit or loan of
assets shall be made without the consent of three-fifths of the
members of the governing body.

ARTICLE 8. EDUCATION

Section 8.01. Public Education.

The General Assembly by law shall provide for a statewide
system of free public schools. The system shall be headed by a
governing board whose members shall be appointed by the gov-
ernor. The General Assembly by law shall provide also for such
other public educational institutions and services as may be
necessary or desirable for the intellectual, cultural, and occupa-
tional development of the people of this State.

Section 8.02. Public Higher Education.

The governing boards prescribed by the General Assembly by
law for the University of Maryland, the state colleges, and all
other state institutions of higher education, including community
colleges, shall formulate policies for their respective institutions
and shall have general supervision over them in all academic
matters. These boards may be granted by the General Assembly
by law such additional powers of supervision, direction, and con-
trol of their respective institutions and over the expenditure of
their funds as the General Assembly may deem to be appropriate.

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