HARRY HUGHES. Governor

1543

ANY OFFICER WHOSE SIGNATURE OR COUNTERSIGNATURE APPEARS ON
THE COUPONS CEASES TO BE SUCH OFFICER BEFORE DELIVERY OF THE
BONDS, HIS SIGNATURE OR COUNTERSIGNATURE SHALL NEVERTHELESS
BE VALID AND SUFFICIENT FOR ALL PURPOSES THE SAME AS IF HE
HAD REMAINED IN OFFICE UNTIL DELIVERY.

(C)  ALL BONDS SHALL MATURE NOT LATER THAN 40 YEARS
FROM THEIR DATE OF ISSUANCE.

(D)  ALL BONDS SHALL BE SOLD IN SUCH MANNER, EITHER AT
PUBLIC OR PRIVATE SALE, AND UPON SUCH TERMS AS THE GOVERNING
BODY OF THE MUNICIPALITY OR COUNTY OR THE BOARD OF DIRECTORS
OF AN AUTHORITY DEEMS BEST. ANY CONTRACT FOR THE
ACQUISITION OF PROPERTY MAY PROVIDE THAT PAYMENT SHALL BE
MADE IN BONDS. BONDS SHALL NOT BE SUBJECT TO THE PROVISIONS
OF §§ 9, 10, AND 11 OF ARTICLE 31 OF THE ANNOTATED CODE OF
MARYLAND (1957 EDITION), AS AMENDED FROM TIME TO TIME.

266-II-11.

THIS ACT SHALL MAY NOT BE CONSTRUED TO AUTHORIZE ANY
MUNICIPALITY OR COUNTY TO ACQUIRE ANY PROPERTY BY EMINENT
DOMAIN.

266-II-12.

WHENEVER THE COUNTY OR MUNICIPALITY AS LESSOR, LEASES
ITS PROPERTY WITHIN THE DEVELOPMENT DISTRICT, THE PROPERTY
SHALL BE ASSESSED AND TAXED IN THE SAME MANNER AS PRIVATELY
OWNED PROPERTY, AND THE LEASE OR CONTRACT SHALL PROVIDE THAT
THE LESSEE SHALL PAY TAXES OR PAYMENTS IN LIEU OF TAXES UPON
THE ASSESSED VALUE OF THE ENTIRE PROPERTY AND NOT MERELY THE
ASSESSED VALUE OF THE LEASEHOLD INTEREST.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 6, 1980.

CHAPTER 499

(House Bill 1899)

AN ACT concerning

Changes of Place of Business

FOR the purpose of altering the procedures for changing the
place of business of a licensee under the licensing
provisions governing consumer loans, sales finance
companies, and issuance and selling of money orders,
traveler's checks, and other drafts.