24                               LAWS OF MARYLAND                        [CH. 25

[one hundred thousand dollars ($100,000.)] five hundred thousand
dollars ($500,000.), to be used as a revolving fund for any of the
purposes of this subtitle for which benefit assessments, special tax
levies, service charges, or other revenues are available. From time to
time the Commissioners may apply and use a portion of the revolv-
ing fund for the construction or improvement work or project
authorized, at the same time imposing the benefit tax assessment,
special tax levy, service charge, or other revenue payment author-
ized elsewhere in this subtitle. At the same time the Commissioners
shall impose an annual interest charge of four per centum (4%) on
the unpaid balance of the benefit assessment, special tax levy,
service charge, or other revenue payment. The monies paid to the
Commissioners from time to time for any such benefit assessment,
special tax levy, service charge, or other revenue payment, together
with the interest payments on the unpaid balances thereof, shall be
paid into the revolving fund, where it may be reused for the same
purposes and under the same procedures. The provisions of this
subsection do not apply to or affect any expenditures or projects
under this subtitle which are not made from or do not concern the
revolving fund.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved March 22, 1968.

CHAPTER 25
(House Bill 9)

AN ACT to add a new Section 14A to Article 41 of the Annotated
Code of Maryland, (1965 Replacement Volume), title "Executive
and Administrative Department," subtitle "General Provisions,"
to follow immediately after Section 14 thereof, to provide for the
establishment by the Governor of a Code of Ethics concerning pos-
sible conflict of interests of executive branch officials and em-
ployees, and for the filing of these regulations with the Secretary
of State.

Section 1. Be it enacted by the General Assembly of Maryland,
That a new Section 14A be and it is hereby added to Article 41 of
the Annotated Code of Maryland, (1965 Replacement Volume), title
"Executive and Administrative Departments," subtitle "General
Provisions," to follow immediately after Section 14 thereof, and to
read as follows:

14A.

The Governor shall promulgate rules and regulations establishing
a Code of Ethics for all executive branch officers and employees in the
area of possible conflict between their private interests and official
duties or state employment. The rules and regulations, which apply
to persons included in the classified service and subject to the
provisions of Article 64A, shall not be contrary to the provisions
of Article 64A. The rules and regulations shall be filed with the
Secretary of State and be open to public inspection.