Marvin Mandel, Governor                        1427

proposed to be made to any administration, agency, board or com-
mission included within the Department of Transportation or pro-
posed to be made for any designated transportation activity, func-
tion or undertaking which has been reduced by the General Assem-
bly shall be subject to restoration , FOR THE SAME PURPOSE
AS ORIGINALLY PROPOSED, by the budget amendment proce-
dure set forth in Section 8 (e) of Article 15A of the Code. , [and
provided further that no appropriation made to any administration,
agency, board or commission included within the Department of
Transportation or made for any designated transportation activity,
function or undertaking shall be subject to reduction by the budget
amendment procedure set forth in said Section 8 (e).]

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved May 24, 1971.

CHAPTER 671
(Senate Bill 661)

AN ACT to authorize the creation of a State debt in the aggregate
amount of Seven Million Dollars ($7,000,000), the proceeds there-
of to be used for the Maryland Housing Fund (Acts of 1971,

Chapter............, Senate Bill No........... 658), and providing generally

for the issue and sale of Certificates of Indebtedness BONDS
evidencing such loan.

Section 1. Be it enacted by the General Assembly of Maryland,
That the Board of Public Works is hereby authorized and directed
EMPOWERED to issue a State loan to be known as the "Maryland
Housing Fund Loan," in the aggregate sum AMOUNT of Seven
Million Dollars ($7,000,000).

The certificates of indebtedness (hereinafter called "bonds") evi-
dencing said loan may be issued all at one time or, in groups, from
time to time, as hereinafter provided. All of said bonds evidencing
said loan, or any group thereof, shall be issued according to a serial
maturity plan to be established in the resolution authorizing the
issuance of said loan or any portion thereof, which plan need not
be in equal par amounts or in consecutive annual installments but
shall be so worked out as to discharge the principal represented by
said bonds within fifteen (15) years from the date of issue. It shall
not be necessary to provide for the payment of any part of the
principal represented by any of said bonds for the first two (2)
years from the date of issuance.

The Board of Public Works is hereby authorized and empowered
to pass a resolution or resolutions, from time to time, determining
and setting forth:

(a) The proportion of the total loan authorized by this Act which
shall be issued at any particular time.