3772

LAWS OF MARYLAND

Ch. 719

(House Bill 1478)

AN ACT concerning

State Bonds - Method of Issuance

FOR the purpose of confirming conforming the different
provisions that relate to issuance and sale of State
general obligation bonds on a consolidated basis; and
providing that the method of awarding bonds at public
sale is not limited to a net interest cost calculation.

BY repealing and reenacting, with amendments,

Article 31 - Debt - Public

Section 2B(e) and 21(b)(6)(b)

Annotated Code of Maryland

(1976 Replacement Volume and 1981 Supplement)

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

Article 31 - Debt - Public

2B.

(e) In the adoption of the resolution authorizing the
sale of each "State and local facilities loan," the Board of
Public Works shall also determine and set forth the
[following matters:] MATTERS PROVIDED FOR IN § 21 OF THIS
ARTICLE.

[(1) The form of the bond representing the
"State and local facilities loan" so authorized to be
issued, including any interest coupons to be attached
thereto, and provisions for the issuance of bonds in coupon
form and for the registration of coupon bonds as to
principal only.

(2)  The denomination or denominations of the
bonds to be issued, which may not be less than one hundred
dollars ($100.00) but may be in sums of one hundred dollars
($100.00) or any suitable multiple thereof, and the place or
places of payment of principal and interest thereon.

(3)  The rate or rates of interest of the bonds
to be issued, payable semi-annually.

(4)  The date of the bonds to be issued.

(5)  The dates when any of the bonds representing
said loan are to be paid and the amount to be paid upon such
dates, respectively.