HARRY HUGHES, Governor

5449

Allegany County                                                    $15,000,000

Washington County                                               $15,000,000

Howard County                                                        $ 5,000,000

(b) The balance of such state ceiling for the
State for calendar year 1981 is hereby allocated to the
Administration.

Section 2. Notwithstanding any applicable charter,
special law, local ordinance, or other corporate document,
Washington County is hereby authorized, by appropriate
legislative action taken in the manner prescribed by law, to
transfer its initial allocation made in Section 1(a) of this
Proclamation or any portion thereof, to the Washington
County Housing Authority.

Section 3. The initial Howard County allocation made
in Section 1(a) of this Proclamation shall be transferred
automatically, without further action or notice, to the
Administration unless there shall have been filed with the
Secretary of the Department by October 1, 1981 and as
reasonably requested from time to time thereafter an opinion
or opinions of bond counsel, designated by Howard County and
satisfactory to the Secretary of the Department, to the
effect that the obligations proposed to be issued by Howard
County to provide construction and/or permanent financing of
the housing facilities known as Guilford Gardens are subject
to the provisions of Section 103A of the Code.

Section 4. The respective initial allocations made in
Section 1(a) of this Proclamation to each eligible local
issuer (as such initial allocations may be transferred, in
the case of Washington County, in accordance with Section 2
of this Proclamation) shall revert to the Administration,
without further action or notice, if, in the determination
of the Secretary of the Department (which determination
shall be binding and conclusive for all purposes), the
eligible local issuer has not satisfactorily completed all
of the following steps by October 1, 1981:

(a)  Retained bond counsel with respect to the
issuance of the proposed obligations;

(b)  Retained an underwriter or financial advisor
with respect to the issuance of the proposed obligations;

(c)  Completed and filed with the     Secretary of
the Department (1) an outline of the eligible   local issuer's
proposed program of providing financing for   owner-occupied
housing and (ii) a complete set of sample     financing and