Ch. 360

LAWS OF MARYLAND

Chapter 519 of the Acts of 1984

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984. [It shall remain in effect for a period
of 3 years and, at the end of June 30, 1987, and with no further
action required by the General Assembly, this Act, unless
otherwise reenacted, shall be abrogated and of no further force
and effect.]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1987.

Approved May 14, 1987.

CHAPTER 360

(Senate Bill 539)

AN ACT concerning

Creation of a State Debt - Day Care Facilities Loan
Guaranty Guarantee Fund Loan of 1987

FOR the purpose of authorizing the creation of a State Debt in
the amount of $500,000, the proceeds to be added to the Day
Care Facilities Loan Guaranty Guarantee Fund to be used by
the Department of Economic and Community Development for the
purposes prescribed by law for the Fund; providing for a
certain use of State funds; and providing generally for the
issuance 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 Day Care Facilities Loan Guaranty
Guarantee Fund Loan of 1987 in the total principal amount of
$500,000. 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.

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