HARRY HUGHES, Governor

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on the effective date of this Act, for placing the projects
listed in the preceding Sections under contract. If the
projects, or ay any of them, are not placed under contract
within the 2 year period, then, as to any project not placed
under contract, it shall be deemed abandoned. To the extent
that bonds evidencing the portion of the loan authorized by
Chapter 886 of the Acts of 1975, Chapter 804 of the Acts of
1978, or Chapter 420 of the Acts of 1979 attributable to an
abandoned project have been issued at the end of that 2 year
period, the unexpended proceeds specified for the abandoned
project shall be applied by the Governor in accordance with
Section 3 of Article 78A of the Annotated Code of Maryland
(1980 Replacement Volume, as amended from time to time). To
the extent that bonds evidencing the portion of the loan
authorized by Chapter 886 of the Acts of 1975, Chapter 671
of the Acts of 1977, Chapter 804 of the Acts of 1978, or
Chapter 420 of the Acts of 1979 attributable to an abandoned
project have not been issued at the end of that 2 year
period, the total bonds authorized by that Act, but not yet
issued, shall be reduced by the amount specified for the
abandoned project. Funds appropriated by Chapter 86 of the
Acts of 1979 attributable to an abandoned project shall
revert to the general treasury of the State.

SECTION 5 6. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1981.

Approved May 19, 1981.

CHAPTER 691

(House Bill 1466)

AN ACT concerning

Home Financing Program - Interest Rate

FOR the purpose of clarifying the interest rate that may be
charged on loans made under the Home Financing Program;
and specifying the use of certain funds in the program.

BY repealing and reenacting, with amendments,

Article - Financial Institutions
Section 13-307, 13-308, and 13-315(b)
Annotated Code of Maryland
(1980 Volume and 1980 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be repealed, amended, or enacted to read as follows: