BLAIR LEE III, Acting Governor

1957

value of the [common stock portion of the] assets held by
the retirement system, provided that [the annual amount of
any such write—up shall not exceed 3 per centum of the total
book value of the common stocks held as of the determination
date of the write—up. One half of the amount of any such
write—up shall be offset against the employer contributions
otherwise payable hereunder and, notwithstanding any other
provision of this article, the other half shall be
accumulated in a special account under the Accumulation Fund
to be used to provide all or part of the cost of benefit
improvements. ] FOR GENERAL LEDGES ACCOUNTING AND FINANCIAL
REPORTING THE BOARD OF TRUSTEES WILL USE GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 633

(House Bill 889)

AN ACT concerning

Baltimore City - Moving Picture Machine Operators

FOR the purpose of abolishing authorizing the Mayor and City
Council of Baltimore to make the Board of Examining
Moving Picture Machine Operators; and providing for the
termination of related powers, duties, penalties, and
licenses a City agency or instrumentality under certain
conditions; and relating generally to that Board and
the licensing of Motion Picture Machine Operators.

BY repealing

The Public Local Laws of Baltimore City

Section 11-1 through 11-10, inclusive, and the subtitle
"11. Moving Picture Machine Operators"

Article 4 - Public Local Laws of Maryland

(1969 Edition, as amended

BY adding to

The Public Local Laws of Baltimore City
Section 11-11

Article 4 - Public Local Laws of Maryland
(1969 Edition, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Code of Public local Laws
of Maryland be repealed, amended, or enacted to read as