1432                                       LAWS OF MARYLAND                                   Ch. 370

CHAPTER 370

(Senate Bill 838)

AN ACT concerning

Bird River and North East Creek Dredging Loan of 1976

FOR the purpose of amending the Bird River and North East Creek

Dredging Loan of 1976 to extend the period of time for the
funds provided by the loan to be encumbered; and extending a
certain deadline for a certain period of time for the
issuance of bonds that evidence the loan.

BY repealing and reenacting, with amendments,

Chapter 5 of the Acts of the General Assembly of 1977, as

last amended by Chapter 751 of the Acts of the General
Assembly of 1981

Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That the Laws of Maryland read as follows:

Chapter 5 of the Acts of 1977, as last amended

by Chapter 751 of the Acts of 1981

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That chapter(s) of the Acts of the General Assembly be
repealed, amended, or enacted to read as follows:

Chapter 5 of the Acts of 1977

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That:

(1)  The Board of Public Works may borrow money and incur
indebtedness on behalf of the State of Maryland through a State
loan to be known as the Bird River and North East Creek Dredging
Loan of 1976 in the aggregate principal amount of $660,000, to be
apportioned in the amount of $560,000 for the Bird River Dredging
Project and in the amount of $100,000 for the North East Creek
Dredging Project, This loan shall be evidenced by the issuance
and sale of State general obligation bonds authorized by a
resolution of the Board of Public Works and issued, sold and
delivered in accordance with the provisions of Sections 19 to 23
of Article 31 of the Annotated Code of Maryland (1971 Replacement
Volume and 1975 Supplement, as amended from time to time).

(2)  The bonds issued to evidence this loan or installments
thereof may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under Section 2B of
Article 31 of the Code.