BLAIR LEE III, Acting Governor

1889

CHAPTER 605

(House Bill 551)

AN ACT concerning

Maryland Home Financing Program

FOR the purpose of amending the Home Financing Loans of
1972, 1974, 1975, and 1976 to provide that any
prepayment of the principal of a loan made pursuant to
these Acts may be used, in a certain manner, to make
additional loans under the Maryland Home Financing
Program.

BY repealing and reenacting, with amendments,

Chapter 634 of the Acts of the General Assembly of 1972
Section 6

BY repealing and reenacting, with amendments,

Chapter 734 of the Acts of the General Assembly of 1975
Section 6

BY repealing and reenacting, with amendments,

Chapter 754 of the Acts of the General Assembly of 1974
Section 6

BY repealing and reenacting, with amendments,

Chapter 698 of the Acts of the General Assembly of 1976
Section 1 (3)

SECTION 1. BE IT ENACTED BY THE      GENERAL      ASSEMBLY OF

MARYLAND, That chapter(s) of the Acts of the General

Assembly be repealed, amended, or enacted      to read as
follows:

Chapter 654 of the Acts of 1972

SEC. 6. AND BE IT FURTHER ENACTED, That, except for
the amounts required for administrative costs, all SCHEDULED
(TIMELY OR LATE) payments of principal and interest on
loans made from the proceeds of the bonds authorized to be
issued by this Act and made pursuant to the provisions of
section 266FF—2 of Article 41 of the Annotated Code of
Maryland, as amended from time to time, shall be used to
repay the interest On and principal of any bonds issued
under this Act. ANY PREPAYMENT OF THE PRINCIPAL OF A LOAN
SHALL MAY BE USED TO MAKE ADDITIONAL LOANS UNDER THE
MARYLAND HOME FINANCING PROGRAM, WHICH LOANS SHALL BE