MARVIN MANDEL, Governor

3453

OUTSTANDING AT THE TIME THE ANNEXATION RESOLUTION IS
PASSED BY THE LEGISLATIVE BODY OF THE ANNEXING AUTHORITY,
THE ANNEXING AUTHORITY SHALL BE LIABLE TO THE COUNTY FOR
THE ENTIRE AMOUNT OF THE COUNTY'S INDEBTEDNESS WHICH IS
FAIRLY ALLOCABLE TO SUCH SERVICES AND FACILITIES, AND IS
THEN STILL UNPAID. THE ANNEXING AUTHORITY SHALL
DISCHARGE THE OBLIGATION CREATED BY THIS SECTION BY
REIMBURSING TO THE COUNTY NO LATER THAN 60 DAYS AFTER THE
END OF EACH COUNTY'S FISCAL YEAR DURING WHICH ANY PART OF
THE INDEBTEDNESS ALLOCABLE TO THE SERVICES AND FACILITIES
REMAINS OUTSTANDING ALL INTEREST AND PRINCIPAL PAID BY
THE COUNTY DURING THE PREVIOUS FISCAL YEAR, TOGETHER WITH
ALL ADMINISTRATIVE EXPENSE OF SERVICING THE COUNTY'S
INDEBTEDNESS AND FAIRLY ALLOCABLE TO THE GOVERNMENTAL
SERVICES AND FACILITIES ON THE LAND BEING ANNEXED, WHICH
WERE PROVIDED BY THE COUNTY PRIOR TO THE PASSAGE OF THE
ANNEXATION RESOLUTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved May 15, 1975.

CHAPTER 816
(House Bill 1558)

AN ACT concerning

Creation of a State Debt — Memorial Stadium

FOR the purpose of authorizing the creation of a State
debt in the aggregate amount of [[Thirty—two Million
Five Hundred and Thirty Thousand Dollars
($32,530,000)]] $850,000, to be known as the
"Memorial Stadium Loan of 1975" to be used for the
purpose of providing funds for one or more loans to
be made to the Mayor and City Council of Baltimore
to be used for design and preparation of detailed
plans and specifications for the construction,
renovation, improvement and equipping Memorial
Stadium, in the City of Baltimore, including the
payment of architects' and engineers' fees: and
providing generally for the issue and sale of 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 empowered to issue a State loan to be