2324

LAWS OF MARYLAND

Ch. 795

transferred to the Annuity Bond Fund and shall be applied to
the debt service requirements of the State- To the extent
the loan authorized herein has not been issued within the
two year period, the total bonds authorized by this Act, but
not yet issued, shall be reduced by the amount specified
herein for any such abandoned project.

(10)   Except as otherwise indicated herein, moneys
derived from the sale of bonds authorized by this Act shall
be used only for capital improvements and for no other
purpose. In determining whether an expenditure represents a
capital improvement, the Board of Public Works shall be
guided by the principle that a capital improvement is an
improvement, the useful life of which shall be at least
equal to the life of the bonds by which it is financed.

(11)   For any project listed in Section 1(3) of this
Act for which preliminary planning funds are appropriated
and for which the program required by Section 10(b) of
Article 88C of the Annotated Code (1969 Replacement Volume
and 1977 Supplement) has not been prepared, the appropriate
State agency shall submit a program to the Department of
State Planning for approval before the planning funds may be
expended. For any project listed in Section 1 (3) of this
Act for which funds for construction are appropriated and
for which the preliminary plans and outline specifications
required by Section 10 of Article 15A of the Annotated Code
(1976 Replacement Volume and 1977 Supplement) have not been
prepared, the appropriate State agency shall submit the
plans and outline specifications to the Department of State
Planning for approval before the construction funds may be
expended.

SECTION 2. AND BE IT FURTHER ENACTED, That chapter(s)
of the Acts of the General Assembly be repealed, amended, or
enacted to read as follows:

Chapter 179 of the Acts of 1972

SECTION 5. AND BE IT FURTHER ENACTED, That the actual

cash proceeds of the sale of the bonds to be issued under

this Act shall be paid to the Treasurer of the State upon

the warrant of the Comptroller and such proceeds shall be
used exclusively for the following purposes, to wit:

2. The remainder of the proceeds of such loan shall

be credited on the books of the State Comptroller, to be

expended as needed by the State, upon approval by the Board
of Public Works, for the following needs, purposes and
projects, and amounts listed below being intended to include
Architects' and Engineers' fees where applicable:

GENERAL CONSTRUCTION LOAN OF 1972

(M) State Colleges:

(5) Morgan State College: