HARRY HUGHES, Governor

3291

Capital Revolving Account, to constitute a continuing revolving
fund for the purposes listed above. The Capital Revolving Fund
for Historic Preservation is a special fund within the meaning of
[Article 78A, § 15 of this Code, as amended from time to time] §
10-306 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

257L.

(h) (3) The State Treasurer shall hold and the State
Comptroller shall account for the fund. The fund shall be
invested and reinvested in the same manner as other State funds.
Any investment earnings of the fund shall be paid into the
[State] General [Treasury] FUND OF THE STATE.

(5) If there is no appropriation to the fund in the
State budget of part or all of the moneys received as repayments
of principal or interest on the loans, the moneys not
appropriated shall be:

(i) Credited to the Annuity Bond Fund to be
used to pay the principal of or interest on moneys borrowed by
the State and appropriated to the program; or

(ii) Paid into the [State] General [Treasury]
FUND OF THE STATE, to reimburse the State for administrative and
other costs of the program previously paid from the fund.

266F.

(b) Bonds shall be signed by the chief executive officer of
the public body or such other officer as may be designated by
resolution, and the seal of the public body shall be affixed
thereto and attested by the clerk or other similar administrative
officer of the public body as may be designated by resolution.
If any officer whose signature or countersignature appears on the
bonds or coupons ceases to be such officer before delivery of the
bonds, his signature or countersignature shall nevertheless be
valid and sufficient for all purposes the same as if he had
remained in office until delivery. Signature may be by facsimile
in accordance with § [14 of Article 31] 2-303 OF THE STATE
FINANCE AND PROCUREMENT ARTICLE..                         

266DD-6.

(h) The bonds and notes are exempt from the provisions of
[Article 31, §§ 9 through 12 of the Code] §§ 8-206, 8-208, AND
8-213 THROUGH 8-221 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(1) Bonds or notes issued by the Administration may be
secured by a trust agreement between the Administration and a
trustee, which may be any trust company, or bank having trust
powers, within or without Maryland. Any trust agreement, or any
determination authorizing the issuance of bonds or notes, may
contain: