1012

LAWS OF MARYLAND

Ch. 11

reference to "certificates of indebtedness", for
clarity and consistency.

In subsection (a)(4) of this section, the reference to
"notice of a sale" is substituted for the former
reference to "advertising", for clarity and conformity
to § 8-123 of this subtitle.

As to subsection (b)(2) of this section and the
reference to "§§ 8-117 through 8-124", see revisor's
note to § 8-117 of this subtitle.

Defined terms: "Board" § 8-101

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

"State debt" § 8-101

8-119. RESOLUTION OF BOARD -- GENERAL SCOPE.

(A)  CONTENT.

BY 1 OR MORE RESOLUTIONS, THE BOARD MAY PROVIDE FOR THE

TERMS, CONDITIONS, SECURITY, ISSUANCE, SALE, DELIVERY,

REPLACEMENT, OR PAYMENT OF THE STATE BONDS AUTHORIZED BY AN
ENABLING ACT.

(B)  PROCEDURE.

UNLESS THE ENABLING ACT PROVIDES OTHERWISE, THE BOARD SHALL
USE THE PROCEDURES SET FORTH IN §§ 8-117 THROUGH 8-124 OF THIS
SUBTITLE FOR THE ISSUANCE AND SALE OF THE STATE BONDS.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second sentence of
former Art. 31, § 19, the second sentence of -§
21(b)(6)(a), and the references to "resolution[s]" in
§ 21(a) and in the introductory language of § 21(b)
and is revised as a separate section to clarify the
general scope of the Board's authority.

In subsection (a) of this section, the former
reference to adoption by "a majority" of the Board is
deleted as surplusage, since the Board consists of 3
members.

Also in subsection (a) of this section, the former
reference to "form" is deleted as unnecessary in light
of § 8-121 of this subtitle.

As to subsection (b) of this section and the
cross-reference to "§§ 8-117 through 8-124", see
revisor's note to § 8-117 of this subtitle.

The Commission to Revise the Annotated Code notes, for
consideration by the General Assembly, that the
meaning of the word "replacement" in subsection (a) of