MARVIN MANDEL, Governor

1111

CHAPTER 421

(House Bill 723)

AN ACT concerning

Counties and Municipalities — Industrial Development

Authority

FOR the purpose of authorizing counties and
municipalities to create industrial development
authorities; conferring on these authorities the
power to issue revenue bonds and act as mortgagors
under the Maryland Industrial Development Financing
Authority Act to the same extent as the
incorporating county and municipalities; and
generally providing for the structure and operation
of the industrial development authorities.

BY adding to

Article 41 — Governor — Executive and Administrative

Departments
Section 266A(f), 266A-1[[and 266A-2]], 266A-2 and

266A-3
Annotated Code of Maryland
(1971 Replacement Volume and 1975 Supplement)

BY repealing and reenacting, with amendments,

Article 41 — Governor — Executive and Administrative

Departments
Section 266-0(8) and 266W(e)
Annotated Code of Maryland
(1971 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Sections 266A(f), 266A-1 [[and
266A-2]] ,266A-2 and 266A-3 be and they are hereby added
to Article 41 - Governor — Executive and Administrative
Departments, of the Annotated Code of Maryland (1971
Replacement Volume and 1975 Supplement) to read as
follows:

Article 41 — Governor — Executive and Administrative

Departments

266A.

(F)        IN THIS SUBHEADING, "AUTHORITY" MEANS AN

INDUSTRIAL DEVELOPMENT AUTHORITY CREATED IN ACCORDANCE