2754

LAWS OF MARYLAND

Ch. 781

(4)  Except for amounts required for administrative
costs, all scheduled payments (timely or late) of principal
and interest on loans made pursuant to the provisions of
Section 257L of Article 41 from the proceeds of the bonds
authorized to be issued by this Act shall be used to repay
the interest on and principal of any bonds issued under this
Act. Any prepayment of the principal on a loan may be used
to make additional loans under the Maryland Housing
Rehabilitation Program, which loans shall be treated, for
purposes of this section, as loans made from proceeds of the
bonds authorized to be issued under this Act.

(5)  There is hereby levied and imposed an annual State
tax on all assessable property in the State in rate and
amount sufficient to pay the principal of and interest on
the bonds as and when due and until paid in full, such
principal to be discharged within fifteen years of the date
of issue of the bonds.

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

Approved May 27, 1980.

CHAPTER 782

(House Bill 1233)

AN ACT concerning

State Debt - Howard County Detention Center

FOR the purpose of altering the amount of State Debt
authorized by Chapter 927 of the Acts of the General
Assembly of 1978; and altering the amount of matching
funds required under the provisions of that Act and the
date by which those funds must be provided.

BY repealing and reenacting, with amendments,

Chapter 927 of the Acts of the General Assembly of 1978
Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL    ASSEMBLY OF

MARYLAND, That chapter(s) of the Acts of    the General

Assembly be repealed, amended, or enacted    to read as
follows:

Chapter 927 of the Acts of 1978

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That: