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Session Laws, 1966
Volume 678, Page 66   View pdf image (33K)
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66                              LAWS OF MARYLAND                        [CH. 41

the influence of any alcoholic beverage. It is hereby expressed to be
the legislative intent that the provisions of subsection (a) of this
section shall not apply to Carroll, Somerset, Talbot [,] and Wicomico
[Worcester} counties and the law in these above-mentioned counties
shall remain in the same force and effect as if not amended by this
section.

Sec. 2. And be it further enacted, That this Act shall not apply
to the prosecution of any violations which occur on or before
June 1, 1966.

Sec. 3. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved March 23, 1966.

CHAPTER 41
(Senate Bill 117)

AN ACT to add a new Section 7A to Article 15A of the Annotated
Code of Maryland (1957 Edition), title "Budget and Procurement",
subtitle "Budget Administration", said new Section to follow im-
mediately after Section 7 thereof, providing for the disposition of
premiums received from the sale of the State's general obligation
bonds.

Whereas, it has been the long standing policy of the Comptroller
of the Treasury to credit premiums received as part of the proceeds
from the sale of any of the State's general obligation bonds to a
Premium and Expense Account established for each such bond issue,
and to transfer the same to the Annuity Bond Fund Reserve Account
in order to reduce the outstanding bonded indebtedness of the State
after such bonds have been issued, and all expenses in connection
therewith charged on a pro rata basis to such Premium and Expense
Accounts, now, therefore,

Section 1. Be it enacted by the General Assembly of Maryland,
That a new Section 7A be and it is hereby added to Article 15A of the
Annotated Code of Maryland (1957 Edition), title "Budget and Pro-
curment", subtitle "Budget Administration", said new Section to
follow immediately after Section 7 thereof and to read as follows:

7A.

That part of the proceeds of the sale of any of the State's general
obligation bonds which represents premiums earned as a result of
such sale shall be deposited in a Premium and Expense Account
established by the Comptroller of the Treasury for each such bond
account. Expenses of the sale of any such general obligation bonds
shall be charged to each such Premium and Expense Account on a
pro rata basis. After such bonds have been issued, and all expenses of
sale paid, the remainder, if any, shall be transferred to the Annuity
Bond Fund Reserve Account and applied to reducing the outstanding
bonded indebtedness of the State.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved March 23, 1966.

 

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Session Laws, 1966
Volume 678, Page 66   View pdf image (33K)   << PREVIOUS  NEXT >>


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