HARRY HUGHES, Governor                              3629

Approved June 1, 1982.

CHAPTER 645

(House Bill 766)

AN ACT concerning

Comprehensive Flood Management Grant Program

FOR the purpose of altering the amount authorized for the
creation of a State Debt, the proceeds to be used for
the Comprehensive Flood Management Grant Program; and
clarifying language.

BY repealing and reenacting, with amendments,

Chapter 772 of the Acts of the General Assembly of
1980, as amended by Chapter 742 of the Acts of the
General Assembly of 1981
Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Acts of the General
Assembly read(s) as follows:

Chapter 772 of the Acts of 1980,
as amended by Chapter 742 of the Acts of 1981

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 Comprehensive Flood
Management Loan of 1980 in the aggregate principal amount of
[$7,500,000] $10,500,000 $8,500,000 $9,000,000. This loan
shall be evidence 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 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.