HARRY HUGHES, Governor

1049

(2) THE STATE UNIT SHALL MAKE THE DISCLOSURE DOCUMENT
AVAILABLE TO BUYERS OF THE BONDS.

REVISOR'S NOTE: This section is new language that repeats
the provisions of present Art. 31, § 29(b) through

(g).

In subsections (b)(2) and (c) of this section, the
present, specific references to a "State law" and to a
"public general law" are omitted as unnecessary in
light of the broad word "law".

In subsection (d)(1)(iv) of this section, the word
"and" is added, to clarify the apparent legislative
intent. The absence of the word "and" in Ch. 606,
Acts of 1980, which enacted Art. 31, § 29, and in Ch.
17, Acts of 1982, which amended § 29(e), seemed
inadvertent. This addition conforms subsection
(d)(1)(iv) of this section to subsection (a)(2) of
this section.

Defined terms: "Bond" § 8-201

"Includes";"including" § 1-101 "State unit" § 8-201

8-211. RESERVED.

8-212. RESERVED.

PART III. BOND AND GRANT ANTICIPATION NOTES.

8-213. AUTHORITY TO ISSUE.

(A)  BOND ANTICIPATION NOTES.

A STATE UNIT AUTHORIZED TO ISSUE BONDS MAY ISSUE AND SELL
BOND ANTICIPATION NOTES IF, IN THE RESOLUTION THAT AUTHORIZES THE
NOTES, THE STATE UNIT COVENANTS TO:

(1)  PAY FROM THE PROCEEDS OF THE BONDS IN
ANTICIPATION OF THE SALE OF WHICH THE NOTES ARE ISSUED:

(I)  THE PRINCIPAL OF THE NOTES; AND

(II)  TO THE EXTENT THAT THE INTEREST ON THE
NOTES IS NOT PAID FROM THE PROCEEDS OF SALE OF THE NOTES, THE
INTEREST ON THE NOTES; AND

(2)  ISSUE THE BONDS AS SOON AS THERE IS NO LONGER A
REASON FOR DEFERRING THEIR ISSUANCE.

(B)  GRANT ANTICIPATION NOTES.

A STATE UNIT MAY ISSUE AND SELL GRANT ANTICIPATION NOTES IN
ANTICIPATION OF THE RECEIPT OF A GRANT FROM THE UNITED STATES,