HARRY HUGHES, Governor

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(2) THE GOVERNOR, BY PROCLAMATION ISSUED UNDER THE
RESOLUTION, SHALL DECLARE THAT THE TAXES OTHERWISE REQUIRED BY
THE ENABLING ACT MAY NOT BE COLLECTED DURING THAT YEAR.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 31, § 23
and the second and third sentences of § 20(c).

In subsections (a)(1) and (b) of this section, the
references to "debt service requirements" are
substituted for the former references to payment of
"interest" and "principal", for brevity.

In subsection (a)(1) of this section, the clause "that
the Board anticipates will be outstanding" is
substituted for the former language "either issued or
outstanding or authorized or anticipated by the Board
of Public Works to be issued", since the former
language indicated 3 possible standards -- i.e.,
authorized, issued, or anticipated to be issued. The
substituted language is based on practice.

Also in subsection (a)(1) of this section, the former
phrase "to which a State tax on assessable property
has been pledged" is deleted as surplusage in light of
Md. Constitution, Art. III, § 34.

In subsections (a)(4) and (b)(1) and (2) of this
section, the former words "levy", "levy or levies",
and "levied" are deleted as inconsistent with § 8-117
of this subtitle, under which the tax is imposed by
the enabling act.

In subsection (b)(2) of this section, the former
phrase "[u]pon, and to the extent of, that
determination being made by the Board" is deleted as
unnecessary in light of the phrase "under the
resolution".

Defined terms: "Board" § 8-101

"County" § 1-101 "Enabling act" § 8-101

"State bond" § 8-101

8-135. FISCAL AGENT.

(A)  "BANKING INSTITUTION" DEFINED.

IN THIS SECTION, "BANKING INSTITUTION" HAS THE MEANING
STATED IN § 1-101(D) OF THE FINANCIAL INSTITUTIONS ARTICLE.

(B)  APPOINTMENT.

THE TREASURER MAY APPOINT ANY BANKING INSTITUTION AS A
FISCAL AGENT.