HARRY HUGHES, Governor

2747

BY repealing and reenacting, without amendments,

Article 95 - Treasurer

Section 22

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

BY adding to

Article 95 - Treasurer

Section 22.5

Annotated Code of Maryland

(1979 Replacement 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be repealed, amended, or enacted to read as follows:

Article 95 - Treasurer

22.

Notwithstanding any provision of law or ordinance to
the contrary or any limitation or restriction contained in
any other law or ordinance, the Treasurer of the State, the
county commissioners of each county of the State, and the
chief fiscal or administrative officer or officers or
governing body of each municipality, town, body politic,
public body corporate, school, road, drainage, improvement,
construction or soil conservation district or commission in
the State, including, by way of enumeration and not in
limitation, the Upper Potomac River Commission, the State
Roads Commission, county school boards and other political
subdivisions and bodies politic of the State and any agency
of any political subdivision of the State, and the trustees
or other officers in charge of any pension or retirement
system or fund of the State or any political subdivision
thereof or any agency or department of either are hereby
severally directed, authorized and empowered to invest,
redeem, sell, exchange and reinvest all unexpended or
surplus moneys in any fund or account of which they have
custody or control either in bonds or other obligations for
the payment of principal and interest of which the faith and
credit of the United States of America are pledged, or in
obligations of federal governmental agencies issued pursuant
to acts of Congress, or to deposit said moneys in any bank
or banks in the State of Maryland or in any savings and loan
association or savings and loan associations or in any
building and loan association or building and loan
associations in interest-bearing time deposit and/or savings
accounts, OR IN THE LOCAL GOVERNMENT INVESTMENT POOL CREATED
IN THIS ARTICLE. In Prince George's County the chief fiscal
officer is hereby authorized and empowered to invest,
redeem, sell, exchange, and reinvest unexpended or surplus