HARRY HUGHES, Governor                               993

the Board of Public Works has determined that private
financing cannot be otherwise obtained. The loans to
individuals shall bear interest at an annual rate equal to 2
percent plus the rate received on the last State and
facilities loan completed prior to the fiscal year in which
the loan is to be made.

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

Approved April 22, 1980.

CHAPTER 213

(House Bill 1207)

AN ACT concerning

Washington County - Rate of Redemption

FOR the purpose of altering the interest rate payable on
redemption of property sold at a tax sale; and
clarifying language.

BY repealing and reenacting, with amendments,

The Public Local Laws of Washington County
Section 36-8

Article 22 - Public Local Laws of Maryland
(1970 Edition and 1979 Supplement, as amended)

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be repealed, amended, or enacted to read as follows: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 22 - Washington County

36-8.

Whenever real estate [shall be] IS sold by the
Treasurer or Collector, the owner [thereof prior to the
sale], his or her heirs, or a person or corporation holding
a lien against the property [so sold,] may redeem the [same]
PROPERTY by paying into Court to be paid to the purchaser
[thereof], within [the period of twelve] 12 calendar months
from the date of [such] sale, the amount of the purchase
money and all subsequent taxes paid by the purchaser, with
interest [thereon] at the rate of [ten percentum] 12 PERCENT
from the date of sale, and the date of [such] payment of
taxes, respectively; provided that in the event the
redemption is made by a lien holder the title to property
[shall revert] REVERTS to the owner, his or her heirs, and
not to the lien holder.