3912

VETOES

obligations, the principal of and/or interest on which the issuer
is obligated to repay to the holders thereof, the interest or
income from such investments may be used to pay the principal
and/or interest on the same by the issuer. Investments or
deposits made pursuant to this section may be withdrawn or
altered from time to time by the investing or depositing officer
or governing body either to meet the requirements for which such
funds are held or for reinvestment pursuant to the terms hereof.

All such investments made prior to March 2, 1943, are hereby
legalized, validated, ratified and confirmed, notwithstanding the
absence of statutory authority therefor or any inconsistent
provision of law.

22F.

(a) The Treasurer of this State may invest, redeem, sell,
exchange, and reinvest any unexpended or surplus money of any
fund or account over which that officer has custody as Treasurer
in the following types of securities:

(1) (i) Any bond or other obligation for the payment
of principal and interest for which the faith and credit of the
United States of America are pledged; or

(ii) Any obligation of any federal governmental
agency that is issued under an act of Congress; or

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is
hereby declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety and having
been passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its
passage.

May 29, 1984
The Honorable Melvin A. Steinberg
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 552.

This bill requires the State to have an allocation of water
and wastewater from the county whose facilities are affected by