3910

VETOES

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 550.

This bill empowers the chief fiscal or administrative
officers of certain public entities to invest, redeem, sell,
exchange, and reinvest in a repurchase agreement that is secured
by a bond or certain other obligation.

House Bill 1406, which was passed by the General Assembly
and signed by me on May 15, 1984, accomplishes the same purpose.
Therefore, it is not necessary for me to sign Senate Bill 550.

Sincerely,
Harry Hughes
Governor

Senate Bill No. 550

AN ACT concerning

Investments - Repurchase Agreements

FOR the purpose of empowering the county commissioners of each
county, the chief fiscal or administration administrative
officers of each municipality, and body politic, or public
body corporate, the governing body of certain districts or
commissions, and certain other trustees or officers to
invest, redeem, sell, exchange, and reinvest in a repurchase
agreement that is secured by a bond or certain other
obligation; and making this Act an emergency measure.

BY repealing and reenacting, with amendments,

Article 95 - Treasurer

Section 22

Annotated Code of Maryland

(1979 Replacement Volume and 1983 Supplement)

BY repealing and reenacting, without amendments,

Article 95 - Treasurer

Section 22F(a)(l)

Annotated Code of Maryland

(1979 Replacement Volume and 1983 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows: