PREFERENCE IN MAKING ALLOCATION FROM THE

SECRETARY'S RESERVE SHALL BE GIVEN TO PROJECTS

OF STATE ISSUERS THAT ADVANCE THE STATE GOALS

DESCRIBED IN SECTION 2(D)(4) BELOW. [A portion

3850

The portion of the Maryland State Ceiling not
initially allocated or reserved to State and
Local Issuers in accordance with Section 2(a),
(b), and (c) above is hereby allocated to the
State and constitutes the Secretary's Reserve
(the "Secretary's Reserve").

(1)

(d) Secretary's Reserve.

[(4)  A portion of the Maryland State Ceiling equal

                 to $13,000 is hereby allocated to the Maryland
       Industrial Development Financing Authority.]

[(3)  A portion of the Maryland State Ceiling equal
      to $17.50 multiplied by the State's population
      is allocated to Maryland Health and Higher
      Educational Facilities Authority for the
    issuance of qualified 50l(c)(3) bonds (as
      defined in H.R. 3838, and referred to as

      "501(c)(3) bonds").]

[(2)] (1) [The remainder of that] A portion of the

               Maryland State Ceiling EQUAL TO $18.75

    MULTIPLIED BY THE STATE'S POPULATION IS [set

aside for housing bonds pursuant to H.R. 3838

and not previously allocated to the Counties

       is] allocated to the Community Development

     Administration, a division of the State

      Department of Economic and Community

          Development, for the issuance of housing bonds.

[(l) The State Bond Proclamation is hereby amended

           as follows: (A) the allocation of $30,000,000

        to the Board of Public Works is hereby reduced

          to $10,000,000; (B) the remaining allocation of

        $10,000,000 is hereby allocated to the Board of

       Public Works, and may be transferred at any

        time to the Secretary by action of the

     Governor; and (C) the allocation formula set

                forth in H.R. 3838 and adopted by the State

      Bond Proclamation is modified by this

     Proclamation. In all other respects the State

Bond Proclamation is hereby confirmed. ]

(c) State Issuers [and Amendment of State Bond
Proclamation]. A portion of the Maryland State
Ceiling is hereby initially allocated to the State
to be apportioned among State Issuers as follows:

EXECUTIVE ORDERS

(2)