1684                                             LAWS OF MARYLAND                                        Ch. 467

Article, § 8-129 of the Code. To the extent that bonds
evidencing the portion of the loan authorized by Chapter 82 of
the Acts of 1984 and by Chapter 125 of the Acts of 1985
attributable to an abandoned project have not been issued at the
end of the additional 2-year period, the total bonds authorized
by that Act, but not yet issued, shall be reduced by the amount
specified for the abandoned project.

SECTION 3 4. AND BE IT FURTHER ENACTED, That this Act

shall take effect June 1, 1986.
Approved May 13, 1986.

CHAPTER 467

(House Bill 585)

AN ACT concerning

Creation of a State Debt - MSBDFA - Small Business

Surety Bond Guaranty Program Loan of 1986

FOR the purpose of authorizing the creation of a State Debt in

the amount of $2,000,000 $1,750,000, the proceeds to be
added to the Small Business Surety Bond Guaranty Fund to be
used by the Maryland Small Business Developing Development
Financing Authority for the purpose purposes prescribed by
law for the fund; and providing generally for the issue and
sale of bonds evidencing the loan.

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 Small Business Surety Bond Guaranty
Program Loan of 1986 in the total principal amount of $2,000,000

$1,750,000. This loan shall be evidenced by the issuance, sale,
and delivery of State general obligation bonds authorized by a
resolution of the Board of Public Works and issued, sold, and
delivered in accordance with §§ 8-117 through 8-124 of the. State
Finance and Procurement Article and Article 31, § 22 of the Code.

(2)  The bonds to evidence this loan or installments of this
loan may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under § 8-122 of the
State Finance and Procurement Article.

(3)  The cash proceeds of the sale of the bonds shall be
paid to the Treasurer and first shall be applied to the payment