HARRY HUGHES, Governor                                     1025

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 78A, § 3
and, as it related to that section, § 6.

In the introductory language of subsection (a) of this
section, the words "later of" are added to reflect
that "completion" and "acceptance" may both apply to 1
project or program.

Defined terms: "Board" § 8-101

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

"State debt" § 8-101

8-130. RESERVED.

8-131. RESERVED.

PART IV. DEBT SERVICE.

8-132. ANNUITY BOND FUND.

(A) . ESTABLISHED.

THERE IS AN ANNUITY BOND FUND.

(B)  BUDGET APPROPRIATIONS.
THE COMPTROLLER SHALL:

(1)  CREDIT TO THE ANNUITY BOND FUND ANY MONEY
APPROPRIATED IN THE. STATE BUDGET TO MEET THE DEBT SERVICE
REQUIREMENTS ON STATE BONDS; AND

(2)  USE THE MONEY TO MEET THE DEBT SERVICE ON THE
STATE BONDS SPECIFIED IN THE APPROPRIATION.

REVISOR'S NOTE: Subsection (a) of this section is new
language added to state expressly that which formerly
was only implied in the law.

Subsection (b) of this section is new language derived
without substantive change from the first sentence of
former Art. 31, § 20(c).

In subsection (b)(1) of this section, the reference to
"debt service requirements" is substituted for the
former reference to "payment of the principal of and
interest on", for brevity.

Also in subsection (b)(1) of this section, the former
reference to the General Assembly is deleted as
surplusage.

Defined term: "State bond" § 8-101