HARRY HUGHES, Governor                                         3057

5.  Conditional sales contracts, other
purchase-money security agreements or security agreements
relating to the assignment  of contract rights, accounts, general
intangibles or inventory as those terms are defined in the
Uniform Commercial Code;

6.   A filed financing statement under the
Uniform Commercial Code used to publicize any of the instruments
listed in sub-subparagraph 5. of this subparagraph;

7.   Judgments;

8.   Releases;

9.   Orders of satisfaction; or

10.   A participation agreement showing an
interest by a party in a note, mortgage or deed of trust based on
a prior recorded loan to the mortgagor or grantor under a deed of
trust.

(3) (i) Except as otherwise provided in this
paragraph, the recordation tax does not apply to conveyances to:

1.  This State;

2.  Any agency of this State; or

3.   Any political subdivision of this
State.

(ii) A local governing body, by ordinance or
resolution, may apply the recordation tax to mortgages, deeds of
trust, or other conveyances that secure the repayment of any
indebtedness, funded in any part, directly or indirectly, from
the proceeds of bonds issued under Article 41, §§ 266A et seq. of
the Code (relating to industrial buildings for counties and
municipalities). If the local governing body passes such an
ordinance or resolution, the tax shall be applied uniformly to
every conveyance described in this subparagraph.

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

Approved May 29, 1984.