1016

LAWS OF MARYLAND

Ch. 11

(C) IDENTIFICATION OF STATE BONDS.

NOTWITHSTANDING ANY PROVISION OF AN ENABLING ACT, EACH STATE
BOND THAT IS SOLD AS PART OF A CONSOLIDATED ISSUE UNDER THIS
SECTION SHALL BE IDENTIFIED BY THE SERIES AND YEAR IN WHICH THE
BOARD AUTHORIZES THE SALE OF THE ISSUE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 31, §
21(b)(1) and § 2B(c), and the second sentence and,
except for the provisions that referred to the
"purposes designated in the enabling acts" and the
date of enactment of an enabling act, the first
sentence of (a).

In subsection (a) of this section, the reference to
"all or part of the State bonds authorized by 2 or
more enabling acts" is substituted for the former
reference to "certificates of indebtedness
representing two or more State loans or installments
thereof," for clarity.

In light of this substitution and the definition of
the term "enabling act", former Art. 31, § 2B(b),
which defined the term "State loans", is deleted as
unnecessary, since the terms "State loa[n]" and
"loa[n]" are not used in this section, as revised.

Similarly, in light of this substitution, the first
sentence of former Art. 31, § 2B(d), which required a
State and local facilities loan to be evidenced by
bonds "in such number and amounts as to equal the
total amount of the various State loans or
installments thereof", is deleted as unnecessary.

In subsection (b) of this section, the former
reference "[i]n the event that the Board of Public
Works determines it advisable to consolidate ...
loans ... as provided above" is deleted as surplusage.

In subsection (c) of this section, the introductory
phrase -- "[notwithstanding any provision of an
enabling act" -- and the limiting clause -- "that is
sold as part of a consolidated issue" -- are added to
reflect the substance of former Art. 31, § 2B(h),
which stated that all of former § 2B "shall supersede
any inconsistent provision" of an enabling act, but
only to the extent that the State bonds authorized by
the enabling act are included in a consolidated issue
and only for issuance and sale. However, former §
2B(a) -- now subsection (a) of this section
expressly provided for an enabling act to exempt the
State bonds issued under that act from this section.
Similarly, former Art. 31, § 2B(g) and (i), which now
appears in §§ 8-125 and 8-133 of this subtitle,