HARRY HUGHES, Governor                                     1011

Defined terms: "Board" § 8-101

"Enabling act" § 8-101 "State bond" § 8-101

8-118. GENERAL POWERS AND DUTIES OF BOARD.

(A)  ENUMERATED.

THE BOARD SHALL EXERCISE THE POWERS AND PERFORM THE DUTIES
THAT THE GENERAL ASSEMBLY DELEGATES TO THE BOARD IN CONNECTION
WITH:

(1)  THE CREATION OF STATE DEBT;

(2)  THE DETERMINATION OF INTEREST ON AND OTHER TERMS
AND CONDITIONS OF THE STATE DEBT;

(3)  THE PREPARATION OF STATE BONDS THAT EVIDENCE THE
STATE DEBT;

(4)  NOTICE OF A SALE OF STATE BONDS; AND

(5)  THE SALE.

(B)  LIMITATIONS.

THE BOARD SHALL EXERCISE THESE POWERS AND PERFORM THESE
DUTIES IN ACCORDANCE WITH:

(1)  ARTICLE III, § 34 OF THE MARYLAND CONSTITUTION;

(2)  §§ 8-117 THROUGH 8-124 OF THIS SUBTITLE; AND

(3)  THE SPECIFIC ENABLING ACT.

REVISOR'S NOTE: Subsection (a) of this section is new
language derived without substantive change from the
first sentence of former Art. 78A, § 1.

Subsection (b) of this section is new language derived
without substantive change from the last phrase of the
first sentence of former Art. 31, § 19.' See revisor's
note to § 8-117 of this subtitle.

In the introductory language of subsection (a) of this
section, the reference to the General Assembly is
added for clarity.

Also in the introductory language of subsection (a) of
this section, the former reference to the Board "as
constituted under Article XII of the Constitution" is
deleted as surplusage.

In subsection (a)(3) of this section, the defined term
"State bond[s]" is substituted for the former