WILLIAM DONALD SCHAEFER, Governor                    Ch. 571

(2) If a developer is required to be bonded with
respect to more than one project that the developer owns or
controls, directly or indirectly, the developer [may elect to
obtain 1 bond or letter of credit in the appropriate penalty
amount for the aggregate purchase money held from all projects,
if the full penalty amount applies, as needed, to any of the
projects] SHALL OBTAIN A SEPARATE BOND IN THE APPROPRIATE PENALTY
AMOUNT FOR THE PURCHASE MONEY HELD ON EACH PROJECT WHICH BECOMES
REGISTERED WITH THE MARYLAND REAL ESTATE COMMISSION ON OR AFTER
JULY 1, 1987.

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

Approved May 14, 1987.

CHAPTER 571

(House Bill 1368)

AN ACT concerning

Creation of a State Debt - Montgomery

County Detention Center

MC 715-87

FOR the purpose of authorizing the creation of a State Debt in
the amount of $200,000, the proceeds to be used as a grant
to the County Executive and County Council of Montgomery
County for the purpose of the planning, design,
reconstruction, renovation, and reequipping of an existing
unit in the Montgomery County Detention Center for use as a
special management unit subject to the requirement that the
County Executive and County Council of Montgomery County
provide at least an equal and matching fund of a certain
kind for the same purpose by a certain date; 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 Montgomery County Detention Center Loan
of 1987 in the total principal amount of $200,000. This loan
shall be evidenced by the issuance, sale, and delivery of State
general obligation bonds authorized by a resolution of the Board

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