MARVIN MANDEL, Governor

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the conditions and limitations on the use of State
funds for projects under that Act to provide that a
State grant shall be in an amount up to one—half of
the project cost; repealing and re-enacting, with
amendments, Section 5(2) of Chapter 55 of the Acts
of 1973, to amend the conditions and limitations on
the use of State funds under that Act to provide
that a State grant shall be in an amount up to
one—half of the project cost; repealing and
re—enacting, with amendments, Section 5(b) of
Chapter 445 of the Acts of 1968, as Section 5(b) was
amended by Chapter 653 of the Acts of 1969, by
Chapter 246 of the Acts of 1970, Chapter 242 of the
Acts of 1972, Chapter 55 of the Acts of 1973, and by
Chapter 286 of the Acts of 1974, to amend the
conditions and limitations on the use of State funds
for projects under that Act to provide that a State
grant shall be in an amount up to one—half of the
project cost; repealing and re-enacting, with
amendments. Section 5(b) of Chapter 699 of the Acts
of 1967, as Section 5(b) was amended by Chapter 55
of the Acts of 1973, to amend the conditions and
limitations on the use of State funds for projects
under that Act to provide that a State grant shall
be in an amount up to one—half of the project cost;
repealing and re—enacting, with amendments, Section
5(b) of Chapter 561 of the Acts of 1966, as Section
5(b) was amended by Chapter 689 of the Acts of 1967,
and Chapter 55 of the Acts of 1973, to amend the
conditions and limitations on the use of State funds
for projects under that Act to provide that a State
grant shall be in an amount up to one—half of the
project cost; repealing and re—enacting, with
amendments, Section 5 of Chapter 651 of the Acts of
1965, as Section 5 was amended by Chapter 286 of the
Acts of 1974, to amend the conditions and
limitations on the use of State funds for projects
under that Act to provide that a State grant shall
be in an amount up to one—half of the project cost;
correcting certain erroneous section references; and
relating generally to the financing of water
pollution projects.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Board of Public Works is hereby
authorized and empowered to issue a State Loan to be
known as the "Water Quality Loan of 1975" in the
aggregate amount of Fifty Million Dollars ($50,000,000).

The certificates of indebtedness (hereinafter called
"bonds") evidencing 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