HARRY HUGHES, Governor

1031

"bonds". This substitution reflects that Section 2 of
Ch. 601, Acts of 1982, which enacted former Art. 78A,
§ 9, was contingent on ratification of an amendment to
Md. Constitution, Art. III, § 34, which restricts
general obligation debts of the State.

Also in item (2) of this section, the former reference
to "completed settlement" is deleted as surplusage
and, in light of the word "anticipation", misleading.

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

8-139. NOTICE REQUIRED.

THE BOARD SHALL GIVE THE PRESIDENT OF THE SENATE AND THE
SPEAKER OF THE HOUSE OF DELEGATES AT LEAST 10 DAYS' PRIOR NOTICE
OF A LOAN UNDER THIS PART V OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 78A, §
9(d).

Defined term: "Board" § 8-101

8-140. TOTAL LOANS.

THE LOANS OUTSTANDING UNDER THIS PART V OF THIS SUBTITLE MAY
NOT EXCEED A TOTAL PRINCIPAL AMOUNT OF $100,000,000.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second clause in
the introductory language of former Art. 78A, § 9(a).

The phrase "a total principal amount" is substituted
for the former words "sum or sums ... in the
aggregate", to clarify that only the principal is
counted.

8-141. INTEREST RATES.

THE BOARD SHALL DETERMINE THE INTEREST RATES ON LOANS UNDER
THIS PART V OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 78A, §
9(b)(1).

Defined term: "Board" § 8-101

8-142. TIME FOR REPAYMENT.

(A) BOND PROCEEDS.