2680

LAWS OF MARYLAND

Ch. 913

EQUAL TO ONE-HALF THE BENEFIT WHICH THE RETIRED GOVERNOR WAS
RECEIVING OR WOULD HAVE BEEN ENTITLED TO RECEIVE FROM TIME
TO TIME. UPON THE DEATH OF A GOVERNOR WHILE IN OFFICE, THE
SURVIVING SPOUSE, REGARDLESS OF THE AGE OF THE GOVERNOR OR
THE SPOUSE, SHALL RECEIVE FOR THE REMAINDER OF THE SPOUSE'S
LIFE ONE-HALF THE BENEFIT WHICH THE GOVERNOR WOULD HAVE BEEN
ENTITLED TO RECEIVE FROM TIME TO TIME HAD HE COMPLETED ONE
TERM AND ATTAINED AGE 55.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 29, 1978.

CHAPTER 914

(House Bill 1034)

AN ACT concerning

Creation of a State Debt - Home Financing

FOR the purpose of authorizing the creation of a State Debt
in the amount of $10,000,000 $5,000,000, the proceeds
to be used to provide mortgage money for disadvantaged
and low—income citizens of Maryland; and providing
generally for the issue and sale of bonds evidencing
the loan.

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 Home Financing Loan
of 1978 in the aggregate principal amount of $10,000,000
$5,000,000. 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 (1976
Replacement Volume and 1977 Supplement, as amended from time
to time).

(2)    The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or may
be consolidated and sold as part of a single issue of bonds
under § 2B of Article 21 of the Code.

(3)    The actual cash proceeds of the sale of the bonds
shall be paid to the Treasurer and shall be first applied to
the payment of the expenses of issuing and delivering the
bends unless funds for this purpose are otherwise provided
and thereafter shall be credited on the books of the State