HARRY HUGHES, Governor

5287

This bill authorizes the creation of a State debt. The
proceeds of this loan are to be used to assist the Johns
Hopkins University in the construction of the Space
Telescope Science Institute in Baltimore City.

Senate Bill 510, which was passed by the General
Assembly and signed by me on June 1, 1982, accomplishes the
same purpose. Therefore it is not necessary for me to sign
House Bill 813.

Sincerely,
Harry Hughes
Governor

House Bill No. 814

AN ACT concerning

Creation of a State Debt -
Industrial and Commercial Redevelopment Fund

FOR the purpose of authorizing the creation of a State debt
in the amount of $3,500,000 $3,000,000, the proceeds to
be used to continue the industrial and commercial
redevelopment fund; and providing generally for the
issue and sale of bonds evidencing the loan.

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 Industrial and
Commercial Redevelopment Loan of 1982 in the aggregate
principal amount of $3,500,000 $3,000,000. 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 1981
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.