HARRY HUGHES, Governor

3687

ISSUER OF THE LOCAL OBLIGATIONS MAY PAY ANY FEES OR CHARGES
NECESSARY TO ENABLE THE ADMINISTRATION TO SELL ITS BONDS, NOTES,
OR OTHER OBLIGATIONS OR TO PROVIDE THE FINANCIAL ASSISTANCE
AUTHORIZED BY THIS SUBSECTION (18), INCLUDING ANY FEES FOR THE
INSURANCE OF LOCAL OBLIGATIONS OR OF NOTES, BONDS, OR OBLIGATIONS
OF THE ADMINISTRATION, OR TO PROVIDE ANY OTHER GUARANTEE, CREDIT
ENHANCEMENT, OR ADDITIONAL SECURITY FOR ANY SUCH OBLIGATIONS.

(C) NOTWITHSTANDING ANY OTHER PROVISION OF PUBLIC
GENERAL OR PUBLIC LOCAL LAW, CHARTER, OR ORDINANCE, IN ORDER TO
ENHANCE THE SECURITY OR THE MARKETABILITY OF THE BONDS, NOTES, OR
OBLIGATIONS OF THE ADMINISTRATION SOLD TO FINANCE AN
INFRASTRUCTURE PROJECT, A COUNTY OR MUNICIPALITY MAY AGREE WITH
THE ADMINISTRATION TO PLEDGE ANY MONEYS THAT THE COUNTY OR
MUNICIPALITY IS ENTITLED TO RECEIVE FROM THE STATE, INCLUDING
WITHOUT LIMITATIONS THE COUNTY OR MUNICIPALITY SHARE OF INCOME
TAX. IN THE EVENT OF SUCH PLEDGE, THE STATE COMPTROLLER AND THE
STATE TREASURER SHALL CAUSE IN ACCORDANCE WITH THE TERMS OF SUCH
AGREEMENT SUCH MONEYS TO BE PAID TO THE ADMINISTRATION OR ANY
TRUSTEE DESIGNATED BY THE ADMINISTRATION.

266DD-6.

(c) The Administration may borrow money and issue bonds or
notes to provide funds for making, purchasing, or participating
in making mortgage or other loans; purchasing securities backed
by a mortgage or other loan or loans; PURCHASING LOCAL
OBLIGATIONS; meeting any development cost; or achieving any other
of its purposes. Every issuance of bonds or notes shall be
pursuant to a determination that the issuance is necessary to
achieve one or more purposes of the Administration. The
determination shall be made by the Director of the Administration
or by any person designated by the Secretary of Economic and
Community Development, and approved by the Secretary of Economic
and Community Development. The determination is effective upon
that approval, without any other proceeding, action, or approval,
and is conclusive of the matters determined therein.

SECTION 3. AND BE IT FURTHER ENACTED, That a task force
shall be appointed for the purpose of making recommendations
concerning the direction, administration, and program format of
infrastructure within 30 days following its statutory enactment.
The task force shall be comprised of 2 members of the House of
Delegates, 2 members of the Senate, 1 member from the Department
of State Planning, 1 member from the Department of General
Services, 1 member from the Department of Economic and Community
Development, 1 member from the Department of Health and Mental
Hygiene, 1 member from the Maryland Department of Transportation,
4 members from the Maryland Municipal League, and 4 members from
the Maryland Association of Counties. The Governor shall appoint
the chairman of the task force. The task force shall submit its
recommendations to the Governor by November 30, 1985.