HARRY HUGHES, Governor                                      1085

Subtitle 2 of the State Finance and Procurement
Article.

30.

(a)  (1) In this section, the following words have the
meanings indicated.

(2)  "Bonds" means general obligation bonds or notes,
revenue bonds or notes, or other evidences of obligation by
whatever name known or source of funds secured.

(3)  "Bonds in registered form" means bonds issued in
any form qualifying as "registered form" within the meaning of §
103 of the Internal Revenue Code of 1954, as amended, and any
regulations promulgated or proposed thereunder, as amended from
time to time.

(4) "Public body" means a municipal corporation
subject to the provisions of Article 23A, a county, whether
subject to the provisions of [Articles] ARTICLE 25, ARTICLE 25A,
or ARTICLE 25B, THE Mayor and City Council of Baltimore, a
sanitary commission or district, whether organized under the
provisions of public general or public local law, A PUBLIC
CORPORATION OF THE STATE, and a department, commission,
authority, public corporation, agency or other instrumentality of
[the State,] a county or a municipal corporation, including
Baltimore City.

(b)  Notwithstanding any public general law, public local
law, charter or code of any public body, or other provision of
law to the contrary, any public body authorized by law to issue
and sell bonds may issue and sell bonds in registered form and
may establish such procedures for the registration and transfer
of bonds as it may find necessary or appropriate. The power to
issue bonds in registered form includes, without limitation, the
power to appoint corporate or other authenticating trustees,
transfer agents, registrars, and paying or other agents, and the
power to enter into agreements with custodian banks and financial
intermediaries, and nominees of any of them, in connection with
the establishment and maintenance by others of a central
depository system for the transfer or pledge of bonds.

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

the State Finance and Procurement Article, also
amended subsection (a)(4) of this section to delete
the references to the State and its units and
instrumentalities and to make stylistic changes.

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.