HARRY HUGHES, Governor

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Supplement, as amended from time to time) for financing (1) the
entire cost of watershed studies approved or conducted by the
Department, and (2) up to 50 percent of eligible costs of flood
control and watershed management capital projects.

(4) There is hereby levied and imposed an annual State tax
on all assessable property in the State in rate and amount
sufficient to pay the principal of and interest on the bonds as
and when due and until paid in full, such principal to be
discharged within fifteen years of the date of issue of the
bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1984.

Approved May 15, 1984.

CHAPTER 411

(House Bill 452)

AN ACT concerning

Creation of a State Debt -
Residential Energy Conservation Program
Loan of 1984

FOR the purpose of authorizing the creation of a State debt in
the amount of $500,000 $200,000, the proceeds to be used by
the Community Development Administration in the Department
of Economic and Community Development to provide financial
assistance for energy conservation and solar energy projects
for residential buildings; 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 Residential Energy Conservation Program
Loan of 1984 in the aggregate principal amount of $500,000
$200,000. 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 (1983 Replacement Volume, 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