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2352 VETOES
Sincerely,
Harry Hughes
Governor
Senate Bill No. 365
AN ACT concerning
Maryland Industrial Land Act - Loans
FOR the purpose of providing that certain loans are not to be
considered debts or obligations of the county or Baltimore
City may be undertaken or entered into by certain counties
or Baltimore City without regard to certain limitations and
without complying with certain procedures; and making
provisions of this Act severable.
BY repealing and reenacting, with amendments,
Article 41 - Governor - Executive and Administrative
Departments
Section 443
Annotated Code of Maryland
(1982 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 41 - Governor - Executive and Administrative
Departments
443.
A loan under this subtitle is a general obligation of the
borrowing county, to the repayment of which the county's full
faith and credit are pledged or an obligation of Baltimore City
repayable from assets and revenues as provided in the loan
agreement. HOWEVER, NOTWITHSTANDING ANY OTHER PROVISION OF LAW,
A LOAN UNDER THIS SUBTITLE IS NOT A DEBT OR OBLIGATION OF THE
COUNTY OR BALTIMORE CITY WITHIN THE MEANING OF ITS CHARTER OR ANY
APPLICABLE PUBLIC LOCAL OR PUBLIC GENERAL LAW, INCLUDING WITHOUT
LIMITATION ANY PROVISION RELATING TO A LIMITATION UPON THE
BORROWING OF MONEYS OR THE INCURRING OF DEBT HOWEVER,
NOTWITHSTANDING ANY OTHER PROVISION OF LAW, A LOAN TO BALTIMORE
CITY, BALTIMORE COUNTY, OR PRINCE GEORGE'S COUNTY, UNDER THIS
SUBTITLE MAY BE UNDERTAKEN OR ENTERED INTO BY THE COUNTIES OR
BALTIMORE CITY PURSUANT TO AND WITHIN THE LIMITATIONS OF THIS
SUBTITLE WITHOUT REGARD TO ANY LIMITATIONS SET FORTH IN ITS
CHARTER OR OTHER APPLICABLE PUBLIC LOCAL OR PUBLIC GENERAL LAW
THAT WOULD OTHERWISE APPLY, AND WITHOUT COMPLYING WITH ANY
PROCEDURES SET FORTH IN ITS CHARTER OR OTHER APPLICABLE PUBLIC
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