MARVIN MANDEL, Governor

15

(Senate Bill 311)

AN ACT concerning

Corrective Bill - Housing Authorities

FOR the purpose of correcting a technical error in the
laws relating to housing authorities.

BY repealing and reenacting, with amendments,

Article 44A - Housing Authorities

Section 16

Annotated Code of Maryland

(1971 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 16 of Article 44A - Housing
Authorities, of the Annotated Code of Maryland (1971
Replacement Volume and 1975 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:

Article 44A - Housing Authorities

16.

Bonds of an authority shall be authorized by its
resolution and may be issued in one or more series and
shall bear such date or dates, mature at such time or
times, bear interest at such rate or rates, be in such
denomination or denominations, be in such form, either
coupon or registered, carry such conversion or
registration privileges, have such rank or priority, be
executed in such manner, be payable in such medium of
payment, at such place or places, and be subject to such
terms of redemption (with or without premium) as such
resolution, its trust indenture or mortgage may provide.

For a period of two years ending June 30, 1977[. ],
bonds may be sold either at public or private sale in
such manner and upon such terms as shall be authorized by
resolution of the authority.

In case any of the commissioners or officers of the
authority whose signatures appear on any bonds or coupons
shall cease to be such commissioners or officers before
the delivery of such bonds, such signatures shall,
nevertheless, be valid and sufficient for all purposes,
the same as if they had remained in office until such
delivery. Any provision of any law to the contrary
notwithstanding, any bonds issued pursuant to this
article shall be fully negotiable.

Any bond reciting in substance that it has been