HARRY HUGHES, Governor                                 787

All unexpended funds remaining from completed projects
authorized under [the General Construction Loan of 1953, and

under all general____construction loans____authorized

subsequently,] GENERAL OBLIGATION LOAN ENABLING ACTS shall
be applied to reduce the outstanding bonded indebtedness of
the State, within one year after the date of the final
acceptance of [the] A project [by the State].

3A.

(A)  IF, PURSUANT TO THE ANNUAL STATE BUDGET, GENERAL
FUNDS ARE MADE AVAILABLE AND EXPENDED TO FINANCE, IN WHOLE
OR PART, ANY PROJECT OR PROGRAM AUTHORIZED BY A BOND BILL
STATE GENERAL OBLIGATION LOAN ENABLING ACT, THE TOTAL
AUTHORIZATION OF THAT BOND BILL ACT SHALL AUTOMATICALLY BE
REDUCED BY THE LESSER OF:

(1)  THE AMOUNT OF GENERAL FUNDS MADE AVAILABLE,
OR

(2)  THE AMOUNT OF DEBT AUTHORIZED BY THAT BOND
BILL BUT NOT YET ISSUED.

(B)  IF ANY OTHER FUNDS ARE MADE AVAILABLE TO FINANCE,
IN WHOLE OR PART, ANY PROJECT OR PROGRAM AUTHORIZED BY A
BOND BILL GENERAL OBLIGATION LOAN ENABLING ACT, THE
GOVERNOR, WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS,
MAY REDUCE THE AUTHORIZATION OF THAT BOND BILL ACT BY AN
AMOUNT IT HE DEEMS APPROPRIATE BUT IN NO INSTANCE BY AN
AMOUNT GREATER THAN THE FUNDS SO MADE AVAILABLE.

(C)  THE REDUCTIONS PROVIDED FOR IN THIS SECTION SHALL
BE EFFECTIVE ONLY AFTER PUBLICATION TWICE IN THE MARYLAND
REGISTER BY THE COMPTROLLER OF THE TREASURY OF (1) A
DESCRIPTION OF THE SPECIFIC PROJECT OR PROGRAM THE
AUTHORIZATION OF WHICH IS BEING REDUCED, (2) THE AMOUNT OF
THE REDUCTION, (3) THE SOURCE OF FUNDS EXPENDED FOR THE
REDUCTION, AND (4) AN EXACT REFERENCE TO THE ACT THE
AUTHORIZATION OF WHICH IS BEING REDUCED BY CHAPTER, NUMBER,
AND YEAR(S) OF ENACTMENT AND AMENDMENT, IF ANY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1979. is hereby declared to be an
emergency measure and necessary for the immediate
preservation of the public health and safety and haying been
passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the
General Assembly, the same shall take effect from the date
of its passage.

Approved May 1, 1979.