1024                                           LAWS OF MARYLAND                                     Ch. 11

placing any part under contract or committing any
money has been construed to avert the termination of
the authorization, regardless of the lapse of time
until the balance is under contract or committed.

Also in the introductory language of subsection ('a) of
this section, the reference to an "authorization of
State debt" is substituted for the former reference to
"this authorization", for clarity. Similarly, in
subsection (a) of this section, the defined term
"enabling act" is substituted for the former reference
to "the bond authorization bill". As enacted by Ch.
279, Acts of 1953, former Art. 78A, § 4 followed
immediately after former Art. 78A, § 3, which referred
to "a general obligation loan enabling act" and to
which the words "the bond authorization bill"
apparently referred.

In subsection (a)(2) of this section, the word
"grave", which formerly modified the word "emergency",
is deleted as surplusage.

The Commission to Revise the Annotated Code notes, for
consideration by the General Assembly, that the
reference, in former Art. 78A, § 5, to a "temporary
exception" is unclear. The General Assembly may wish
to clarify this reference, which is retained in
. subsection (a)(2) of this section.

Defined terms: "Board" § 8-101

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

8-129. UNSPENT PROCEEDS.

(A)  TIME.

WITH THE APPROVAL OF THE BOARD, THE GOVERNOR SHALL DISPOSE
OF UNSPENT PROCEEDS OF AN ENABLING ACT WITHIN 1 YEAR AFTER THE
LATER OF ABANDONMENT, COMPLETION, OR ACCEPTANCE OF A PROJECT OR
PROGRAM FOR WHICH AN ENABLING ACT AUTHORIZED STATE DEBT.

(B)  DISPOSITION.
THE GOVERNOR SHALL:

(1)  USE THE PROCEEDS TO REDUCE STATE DEBT
AUTHORIZATIONS, AS PROVIDED IN § 8-126(B) THROUGH (D) OF THIS
SUBTITLE; OR

(2)  ORDER THE PROCEEDS TO BE CREDITED TO THE ANNUITY
BOND FUND, TO REDEEM OUTSTANDING STATE BONDS.

(C)  ENFORCEMENT.

THE BOARD SHALL ENFORCE THE PROVISIONS OF THIS SECTION.