MARVIN MANDEL, Governor                            2917

AN ACT concerning

State Bonds — Issuance and Interest

FOP the purpose of authorizing the State Lottery Agency
to issue certain bonds, fixing certain repayment and
interest payment conditions, authorizing the State
Lottery Commission to adopt rules regulating
issuance and payment of interest, providing for the
use and disposition of proceeds of bond sales,
providing that criminal laws of this State are not
applicable to the provisions of this Act, and
generally to provide for the issuance and sale of
these bonds.

BY adding to

Article 88D - State Lottery

Section 24, to be under the new subtitle "State

Premium Savings Bonds"
Annotated Code of Maryland
(1969 Replacement Volume and 1973 Supplement)

BY adding to

Article 27 — Crimes and Punishments

Section 371B

Annotated Code of Maryland

(1971 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 24, to be under the new
subtitle "State Premium Savings Bonds" be and they are
hereby added to Article 88D - State Lottery, of the
Annotated Code of Maryland (1969 Replacement Volume and
1973 Supplement) to read as follows:

Article 88D - State Lottery
STATE PREMIUM SAVINGS BONDS
24.

(A) THE STATE LOTTERY AGENCY SHALL ISSUE STATE
PREMIUM SAVINGS BONDS IN ACCORDANCE WITH THE PROVISIONS
OF THIS SECTION. THE BONDS SHALL BE ISSUED FOR THE
PURPOSE OF PROVIDING ADDITIONAL FUNDS FOR REDUCING THE
AMOUNT OF STATE BONDS TO BE ISSUED AND ESTABLISHING A
RANDOM INTEREST AWARD SYSTEM FOR THE HOLDERS OF THE
BONDS.