2134                                 LAWS OF MARYLAND                               Ch. 605

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

Approved May 20, 1980.

CHAPTER 606

(House Bill 609)

AN ACT concerning

Public Bodies - Small Denomination Bonds

FOR the purpose of authorizing certain public bodies to
issue and sell bonds in certain denominations, under
certain conditions; providing for the advertising,
sale, price, and interest rate of these bonds, and
exempting the advertising and sale of the bonds from
certain provisions of law; requiring the issuance of a
certain disclosure statement in connection with the
issuance of these bonds; placing a maximum limit on the
amount of bonds which may be outstanding; specifying
that public bodies may not exceed certain limitations
of indebtedness; and relating generally to the issuance
and sale of small denomination bonds.

BY adding to

Article 31 - Debt - Public

Section 29 to be under the new subtitle "Small

Denomination Bonds"
Annotated Code of Maryland
(1976 Replacement Volume and 1979 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be repealed, amended, or enacted to read as follows:

Article 31 - Debt - Public

SMALL DENOMINATION BONDS

29.

(A) (1) IN THIS SECTION, THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2)  "BOND" MEANS A BOND, NOTE, CERTIFICATE OF
INDEBTEDNESS, OR OTHER OBLIGATION FOR THE PAYMENT OF MONEY
ISSUED BY A PUBLIC BODY.

(3)  "PUBLIC BODY" MEANS ANY COUNTY, THE MAYOR
AND CITY COUNCIL OF BALTIMORE, ANY MUNICIPAL CORPORATION