BLAIR LEE III, Acting Governor

2839

(D) IN ADDITION TO THE METHODS OF FINANCING PROVIDED
IN SUBSECTIONS (A) AND (B) OF THIS SECTION, A GOVERNING BODY
MAY BORROW INTEREST-FREE FUNDS FROM THE WATERWAY IMPROVEMENT
FUND FOR A WATERWAY IMPROVEMENT PROJECT WITHIN A WATERWAY

IMPROVEMENT DISTRICT, PROVIDED HOWEVER, THAT THE AMOUNT

BORROWED FOR ANY SINGLE PROJECT SHALL NOT EXCEED $75,000.

THE GOVERNING BODY SHALL REPAY THE FUNDS AT A UNIFORM RATE
OVER A PERIOD NOT TO EXCEED 2 5 YEARS AS PROVIDED BY
AGREEMENT BETWEEN THE STATE AND THE GOVERNING BODY-

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 29, 1978.

CHAPTER 984
(Senate Bill 803)

AN ACT concerning

Real Property Assessment Change —
Failure to Send Notice

FOR the purpose of providing that failure to send a notice

     of assessment change under certain circumstances shall

     void any increase in the assessed valuation of certain

property a taxpayer shall not suffer a loss of appeal
rights in the event that a notice of increased
assessment is not sent within a certain number of days
prior to the date of finality; and making this Act an
emergency measure.

BY repealing and reenacting, without amendments.

Article 81 - Revenue and Taxes

Section 29(a)

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

BY adding to

Article 81 — Revenue and Taxes

Section 29(h)

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

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be repealed, amended, or enacted to read as follows: