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MARVIN MANDEL, Governor 3263
ANY OTHER MONEY OR SECURITY THAT THE ISSUER MAY PROVIDE
FOR THE PAYMENT OR SECURITY OF THE REFUNDING BONDS.
(D) FOR THE PURPOSE OF DETERMINING WHETHER
REFUNDING BONDS ISSUED UNDER THIS SECTION ARE WITHIN ANY
DEBT LIMITATION APPLICABLE TO AN ISSUER, THE AMOUNT OF
BONDS OR OTHER OBLIGATIONS TO BE REFUNDED SHALL BE
SUBTRACTED FROM, AND THE AMOUNT OF REFUNDING BONDS TO BE
ISSUED SHALL BE ADDED TO, THE AGGREGATE OF THE ISSUER'S
OUTSTANDING BONDS,
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1977.
Approved May 26, 1977.
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CHAPTER 826
(House Bill 1473)
AN ACT concerning
Creation of a State Debt - College of
Notre Dame of Maryland
FOR the purpose of authorizing the creation of a State
Debt in the amount of $342,860, the proceeds to be
used, subject to certain restrictions, for the
renovation and improvement of an academic building
at the College of Notre Dame of Maryland, subject to
the requirement that the College of Notre Dame of
Maryland shall have obtained from other public or
private sources a sum up to $342,660 as an equal and
matching fund for the same purpose; and providing
generally for the issue and sale of bonds evidencing
the loan.
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:
(1) The Board of Public Works may borrow money and
incur indebtedness on behalf of the State of Maryland
through a State loan to be known as the College of Notre
Dame of Maryland Loan of 1977 in the aggregate principal
amount of $342,860. This loan shall be evidenced by the
issuance and sale of State general obligation bonds
authorized by a resolution of the Board of Public Works
and issued, sold and delivered in accordance with the
provisions of §§ 19 to 23 of Article 31 of the Annotated
Code of Maryland (1971 1976 Replacement Volume and 1975
1976 Supplement, as amended from time to time).
The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or
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