3302                                          LAWS OF MARYLAND                                     Ch. 717

provided in Md. Constitution, Art. III, §§ 32 and 52
and Art. 15A of the Code, is deleted as unnecessary in
light of the usual budgetary process and, in light of
the revision of parts of Art. 15A in the State Finance
and Procurement Article, as partially obsolete.

Article 81 - Revenue and Taxes

323.

(c) The remainder of the taxes collected, other than
unallocated withholding, shall be paid into the [general
treasury] GENERAL FUND of the State and distributed therefrom, in
the manner and for the purposes set forth in the budget.
Unallocated withholding shall be distributed as provided in §
323B of this article.

Article 95 - Treasurer

22.

Notwithstanding any provision of law or ordinance to the
contrary or any limitation or restriction contained in any other
law or ordinance, the county commissioners of each county of the
State, and the chief fiscal or administrative officer or officers
or governing body of each municipality, town, body politic,
public body corporate, school, road, drainage, improvement,
construction or soil conservation district or commission in the
State, including, by way of enumeration and not in limitation,
the Upper Potomac River Commission, county school boards and
other political subdivisions and bodies politic of the State and
any agency of any political subdivision of the State, and the
trustees or other officers in charge of any pension or retirement
system or fund of the State or any political subdivision thereof
or any agency or department of either are hereby severally
directed, authorized and empowered to invest, redeem, sell,
exchange and reinvest all unexpended or surplus moneys in any
fund or account of which they have custody or control [either] in
[bonds or other] obligations [for the payment of principal and
interest of which the faith and credit of the United States of
America are pledged, or in obligations of federal governmental
agencies issued pursuant to acts of Congress, or a] OR repurchase
[agreement that is secured by any bond or other obligation]
AGREEMENTS of the type in which the Treasurer may reinvest under
[§ 22F(a)(l) of this article] § 6-222 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE, or to deposit said moneys in any bank or
banks in the State of Maryland or in any savings and loan
association or savings and loan associations or in any building
and loan association or building and loan associations in
interest-bearing time deposit and/or savings accounts, or in the
local government investment pool created in this article. In
Prince George's County the chief fiscal officer is hereby
authorized and empowered to invest, redeem, sell, exchange, and
reinvest unexpended or surplus moneys in any fund or account of
which he has custody or control, in addition to all those items