MARVIN MANDEL, Governor                              785

(1) IT SHALL OBTAIN THE APPROVAL OF THE
COMMISSIONER; AND

(2) ANY EXISTING DEFICIT IN ITS CAPITAL.
DISREGARDING ANY DEBT INSTRUMENT TO BE RETIRED. SHALL BE
PAID IN CASH SO THAT THE SOUND CAPITAL ASSETS OF THE
TRUST COMPANY ARE AT LEAST EQUAL TO ITS CAPITAL STOCK.

SECTION [[2]] 3. AND BE IT FURTHER ENACTED, That
this Act shall take effect July 1, 1976.

Approved May 4, 1976.

CHAPTER 263

(Senate Bill 150)

AN ACT concerning

Public Works — Acquisition of Certain
Correctional Sites

FOR the purpose of repealing authorization granted to the
Board of Public Works to set aside funds to acquire
sites, construct, and equip certain institutions for
correctional and training purposes for certain
designated categories of persons under various
authorities.

BY repealing

Article 78A — Public Works

Section 14

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 14 of Article 78A - Public Works,
of the Annotated Code of Maryland (1975 Replacement
Volume and 1975 Supplement) be and it is hereby repealed:

Article 78A - Public Works

14.

[The Board of Public Works is hereby authorized and
empowered, as soon as conditions permit, and to the
extent that funds may be set aside for the purpose in a
capital account in the budget, to proceed with the
acquisition of appropriate sites, and the construction
and equipment of the following institutions: (a) A new
training school for nondefective, colored juvenile
delinquents, under the supervision of the State