5278

VETOES

funds to the Industrial Land Fund established by § 446 of
Article 41, Annotated Code of Maryland (1978 Replacement
Volume and 1981 Supplement, as amended from time to time),
to be used for loans to political subdivisions pursuant to
the Maryland Industrial Land Act, §§ 438 to 446 of Article
41 of the Code (1978 Replacement Volume and 1981 Supplement,
as amended from time to time).

(4) There is hereby levied and imposed an annual State
tax on all assessable property in the State in rate and
amount sufficient to pay the principal of and interest on
the bonds as and when due and until paid in full, such
principal to be discharged within fifteen years of the date
of issue of the bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1982.

June 1, 1982
The Honorable Benjamin L. Cardin
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed House Bill 806.

This bill authorizes a State debt. The proceeds of
this loan to be used to provide funds to the Industrial Land
Fund to make loans to political subdivisions pursuant to the
Maryland Industrial Land Act.

Senate Bill 515, which was passed by the General
Assembly and signed by me on May 25, 1982, accomplishes the
same purpose. Therefore it is not necessary for me to sign
House Bill 545.

Sincerely,
Harry Hughes
Governor

House Bill No. 809
AN ACT concerning