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2402 VETOES
Annotated Code of Maryland
(1982 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 13-101 through 13-156, inclusive, of
Article - Financial Institutions of the Annotated Code of
Maryland be repealed.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:
Article - Financial Institutions
SUBTITLE 1. MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY
PART I. DEFINITIONS; GENERAL PROVISIONS.
13-101.
(A) IN GENERAL. - IN THIS SUBTITLE, THE FOLLOWING WORDS
HAVE THE MEANINGS INDICATED.
(B) ACQUISITION. - "ACQUISITION" MEANS THE ACQUISITION,
CONSTRUCTION, RECONSTRUCTION, EQUIPPING, EXPANSION, EXTENSION,
IMPROVEMENT, REHABILITATION OR REMODELING OF 1 OR MORE
FACILITIES.
(C) AUTHORITY. - "AUTHORITY" MEANS THE MARYLAND INDUSTRIAL
DEVELOPMENT FINANCING AUTHORITY.
(D) AUTHORIZED PURPOSE INSURANCE FUND. - "AUTHORIZED
PURPOSE INSURANCE FUND" MEANS THE AUTHORIZED PURPOSE INSURANCE
FUND CREATED BY § 13-121 OF THIS SUBTITLE.
(E) AUTHORIZED PURPOSE OBLIGATIONS. - "AUTHORIZED PURPOSE
OBLIGATIONS" MEANS BONDS OR NOTES, OR OTHER INSTRUMENTS,
CERTIFICATES, OR OTHER EVIDENCES OF OBLIGATION ISSUED, OFFERED
FOR SALE OR DELIVERED BY ANY PERSON OR PUBLIC BODY FOR ANY
PURPOSE FOUND AND DETERMINED BY THE AUTHORITY TO ACCOMPLISH THE
PURPOSES OF THIS SUBTITLE.
(F) BOND INSURANCE FUND. - "BOND INSURANCE FUND" MEANS THE
BOND INSURANCE FUND CREATED BY § 13-120 OF THIS SUBTITLE.
(G) BONDS. - "BONDS" MEANS BONDS, NOTES, BOND ANTICIPATION
NOTES, NOTES IN THE NATURE OF COMMERCIAL PAPER OR OTHER
INSTRUMENTS, CERTIFICATES, OR EVIDENCES OF OBLIGATION ISSUED AND
SOLD BY ANY PUBLIC BODY, AGENCY OR INSTRUMENTALITY OF THE STATE
TO FINANCE OR REFINANCE 1 OR MORE FACILITIES OR 1 OR MORE ENERGY
PROJECTS, OR TO REFUND OUTSTANDING BONDS, INCLUDING, BY WAY OF
EXAMPLE, BONDS WITHIN THE MEANING INDICATED IN THE MARYLAND
ECONOMIC DEVELOPMENT REVENUE BOND ACT AND BONDS WITHIN THE
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