BLAIR LEE III, Acting Governor                           2731

OR

(III) BE ALLOWED TO CONTINUE SERVING

REQUIRED TO SERVE IN A SIMILAR SCHOOL DAY TEACHING CAPACITY
IN ANOTHER SUBJECT AREA FOR WHICH HE OR SHE IS CERTIFIED.

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

Approved May 29, 1978.

CHAPTER 934

(House Bill 1449)

AN ACT concerning

Creation of a State Debt - Memorial Stadium

FOR the purpose of authorizing the creation of a State Debt
in the amount of $1,000,000, the proceeds to be used
for a State grant to the Mayor and City Council of
Baltimore for the construction, renovation,
improvement, and equipping of Memorial Stadium on 33rd
Street in the City of Baltimore, including the payment
of architects' and engineers' fees; specifying certain
conditions for the payment of these funds; and
providing generally for the issue and sale of bonds
evidencing such loans 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 Memorial Stadium
Loan of 1978 in the aggregate principal amount of
$1,000,000. 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 31 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
bonds unless funds for this purpose are otherwise provided