2650

LAWS OF MARYLAND

Ch. 524

loan, the Administration is authorized to foreclose on the
property or commence any action to protect or enforce any right
conferred upon it by any law, mortgage contract or other
agreement, and to bid for and purchase the property at any
foreclosure or at any other sale, or acquire and take possession
of the property; and in either event the Administration may
complete, administer, pay the principal of and interest on any
obligations incurred in connection with the property, dispose of,
and otherwise deal with the property, in a manner as may be
necessary or desirable to protect the interests of the
Administration. Any lien held by the Administration on property
shall be a lien superior to all other liens on the property
except liens for taxes owed to the State of Maryland or any
subdivision thereof and earlier mortgage liens. The
Administration may sell any mortgage or other obligation held by
it, at public or private sale, with or without public bidding,
including the sale of such obligations and commitments to the
solar energy and energy conservation bank pursuant to Title V of
the Energy Security Act, P.L. 96-294.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1985.

Approved May 28, 1985.

CHAPTER 525

(Senate Bill 259)

AN ACT concerning

Sales and Use Tax - Controlled Dangerous Substances

FOR the purpose of providing that certain controlled dangerous
substances are excepted under certain circumstances from the
prohibition on the power of a county, municipality or any
other political subdivision to levy or impose a sales tax or
a use tax.

BY. repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 411B

Annotated Code of Maryland

(1980 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 81 - Revenue and Taxes