HARRY HUGHES, Governor

1081

heretofore or hereafter granted, except that said term shall not
include bonds or other securities issued and sold or offered for
sale by [the State of Maryland, or by] any municipal corporation
subject to the provisions of Article XI-E of the MARYLAND
Constitution [of this State], or by the Mayor and City Council of
Baltimore or by any housing authority formed pursuant to the
provisions of Article 44A of the Code [of Public General Laws of
Maryland], nor shall it include the following:

(1)  Bonds, notes or other securities issued in anticipation
of the receipt of taxes or for current expenses or to meet
emergencies, having a maturity not greater than one year from
their date or dates of issue;

(2)  Bonds issued pursuant to a plan of refunding or
refinancing in exchange, bond for bond, for outstanding maturing
indebtedness other than current or floating indebtedness, and
other than the bonds or notes described in subparagraph (1)
hereof, but including in this exception bonds issued pursuant to
any plan of composition approved and adopted in a proceeding
under Chapter IX of the United States Bankruptcy Act;

(3)  For the purposes of § 10 of this subtitle only, bonds
constituting part of a total authorized issue not exceeding
$25,000.00 aggregate par amount thereof;

(4)  Bonds sold by any public body to the United States of
America or any agency or instrumentality thereof;

(5)  For the purposes of § 10 of this subtitle only, bonds
to be sold to provide funds which, together with grants of
financial assistance, allocated by the United States of America
or any agency or instrumentality thereof, are to be expended on
public works, where, in the opinion of the Attorney General of
Maryland, the contract, agreement or other writing having
reference to said grant or allocation, contains a stipulation
that said grant or allocation is conditioned upon the public body
first having entered into a contract with a prospective purchaser
for the sale of said bonds when issued.

REVISOR'S NOTE: Chapter ____, Acts of 1985, which enacted

the State Finance and Procurement Article, also
amended this section to delete the references to the
State and its units and instrumentalities.

These deletions reflect that the substance of this
section, as it related to the State and its units and
instrumentalities, has been repeated in Title 8,
Subtitle 2 of the State Finance and Procurement
Article.

12.

(g) Any bond anticipation notes or grant anticipation notes
issued under the authority of this section OR TITLE 8, SUBTITLE