1030

LAWS OF MARYLAND

Ch. 11

was the usual procedure, unless the Treasurer allowed
an agent to provide an accounting of destroyed State
bonds and coupons. However, this revision reflects
that, since 1967, when the Treasurer was given
authority to allow an agent to destroy bonds and
coupons, the Treasurer exclusively has used the
procedures for an accounting.

In subsection (f)(1) and (2) of this section, the
phrase "since the last" is substituted for the former
phrase "up to the time of", to avoid inclusion of
previously destroyed State bonds and coupons.

In subsection (g)(2) of this section, the reference to
verification of "the records of the Treasurer" is
added for clarity.

In subsection (g)(3) of this section, the word
"designee" is substituted for the former word
"assistants", which did not conform to a specific
position.

Defined terms: "State bond" § 8-101
"State debt" § 8-101

8-136.     RESERVED.

8-137.     RESERVED.

PART V. STATE REVENUE ANTICIPATION NOTES.

8-138.     AUTHORIZED.

SUBJECT TO THE LIMITATIONS IN THIS PART V OF THIS SUBTITLE,
AND AT THE DIRECTION OF THE BOARD, THE TREASURER MAY BORROW
MONEY, ON THE CREDIT OF THE STATE, IN ANTICIPATION OF:

(1)  TAX RECEIPTS, AS SET FORTH IN THE REVENUE
ESTIMATES THAT SUPPORT AN ENACTED STATE BUDGET; OR

(2)  PROCEEDS OF A SALE OF STATE BONDS.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 78A, §
9(a), except for the reference, in the introductory
language of that subsection, to the limit on the
amount of the loans.

In item (1) of this section, the term "enacted State
budget" is substituted for the former term "enacted
budget", to conform to references elsewhere in this
article.

In item (2) of this section, the defined term "State
bond[s]" is substituted for the former broad term