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S.B. 264 VETOES
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The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis, MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, today I have
vetoed Senate Bill 264 - Bonds - Small Denominations.
This bill increases the maximum denomination that qualifies for a small
denomination bond.
House Bill 294, which was passed by the General Assembly and allowed to go into
effect without my signature, accomplishes the same purpose. Therefore, it is not
necessary for me to sign Senate Bill 264.
Very truly yours,
Robert L. Ehrlich, Jr.
Governor
Senate Bill No. 264
AN ACT concerning
Bonds - Small Denominations
FOR the purpose of altering the maximum denomination that qualifies for a small
denomination bond; and generally relating to small denomination bonds.
BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 8-123.2
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
8-123.2.
(a) In this section, "small denomination bonds" means bonds in denominations
of [$1,000] $5,000 or less.
(b) In accordance with § 8-121 of this subtitle, the Board, in a resolution
setting forth the terms and conditions of any State bond issue, may designate that all
or a portion of the State bonds be issued as small denomination bonds.
(c) Small denomination bonds may be issued in any form permitted under §
8-121 of this subtitle.
- 2996 -
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