HARRY HUGHES, Governor                               3371

authorized amounts shall revert to the annuity bond
fund.

BY repealing and reenacting, with amendments,

Chapter 886 of the Acts of the General Assembly of
1975, as amended by Chapter 707 of the Acts of
the General Assembly of 1977 and Chapter 420 of
the Acts of the General Assembly of 1979

Section 5.2.A 3(d) and C(2)(e)

BY repealing and reenacting, with amendments,

Chapter 671 of the Acts of the General Assembly of

1977,  as amended by Chapter 174 of the Acts of

1978, Chapter 707 of the Acts of 1979, and
Chapter 693 of the Acts of 1980

Section l(2)(E)(l)(a)(4)

BY repealing and reenacting, with amendments,

Chapter 420 of the Acts of the General Assembly of 1979
Section 1(3)(A)(2)(e) and (f)

BY repealing and reenacting, with amendments,

Chapter 693 of the Acts of the General Assembly of 1980
Section 1(3)(I)(2)(c) and (L)

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

(1)  The Board of Public Works may borrow money and
incur indebtedness on behalf of the State of Maryland
through a State loan to be known as the General Construction
Loan of 1981 in the aggregate principal amount of
$99,892,000 $93,590,000 $95,210,000 $87,670,000. This loan
shall be evidenced by the issuance and sale of State general
obligation bonds authorized by a resolution of the Board of
Public Works and issued, sold and delivered in accordance
with the provisions of §§ 19 to 23 of Article 31 of the
Annotated Code of Maryland (1976 Replacement Volume and 1979
1980 Supplement, as amended from time to time).

(2)  The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or may
be consolidated and sold as part of a single issue of bonds
under § 2B of Article 31 of the Code.

(3) The actual cash proceeds of the sale of the bonds
shall be paid to the Treasurer and shall be first applied to