VETOES

(I)  THE principal has a reputation for
financial responsibility; OR

(II)  IF THE PRINCIPAL IS NOT AN INDIVIDUAL, A
MAJORITY OF THE PRINCIPAL IS OWNED BY INDIVIDUALS WITH A
REPUTATION FOR FINANCIAL RESPONSIBILITY;

(3) The principal is a resident of Maryland or has
its principal place of business in Maryland; [ and ]

(4)(I) THE PRINCIPAL IS A CITIZEN OF THE UNITED
STATES; OR

(II) IF THE PRINCIPAL IS NOT AN INDIVIDUAL, A
MAJORITY OF THE PRINCIPAL IS OWNED BY INDIVIDUALS WHO ARE
CITIZENS OF THE UNITED STATES; AND

[(4)] (5) The principal is unable to obtain
adequate bonding on reasonable terms through normal channels.

(c) The principal shall certify to the Authority and the
Authority shall be satisfied that:

(1) A bond is required in order to bid on a contract
or to serve as a prime contractor or subcontractor;

(2)_; A bond is not obtainable on reasonable terms and
conditions without assistance under the Maryland Small Business
Surety Bond Guaranty Program; and

(3) The principal will not subcontract more than 75
percent of the dollar value of the contract.

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

June 2, 1987
The Honorable Thomas V. Mike Miller
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 236.                       

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