WILLIAM DONALD SCHAEFER, Governor

function] PRIVATE ACTIVITY bonds to be
issued.

[(F)] (D) A reservation shall automatically
convert to a reallocation at the time of
the issuance and delivery of the bonds if,
before the expiration of the applicable
period set forth in subsection (b)(3)(D)
above:

(i) the bonds requiring the allocation
are issued; and

(ii) the Secretary shall have received a
copy of the fully executed
Information Report and, if
applicable, the executed
certification of the Issuer or its
bond counsel containing the
information which is requested by
Section [266G] 14-107 (FORMERLY
KNOWN AS 266G) of Article 41 of the
Annotated Code of Maryland, as
amended (the "Section [266G] 14-107
Certificate").

(c) (1) No reallocations for carryforward projects
shall be made between October 1, 1986 and
December 22, 1986 but applications may be filed
with the Secretary during this period.

(2) Beginning December 23, 1986 through December
31, 1986 the Secretary shall make reallocations
only for qualifying carryforward projects for
which no allocation has been made, or from any
portion of the Maryland State Ceiling under
which no [nonessential function] PRIVATE
ACTIVITY bonds have been issued.

Section 7. Minority Consideration.

(a) In addition to any other requirements imposed by
this Proclamation, the recipients of the proceeds of
[nonessential function] PRIVATE ACTIVITY bonds shall
make best efforts to use minority business
enterprises, as defined in Section 18-601 of the
State Finance and Procurement Article of the
Annotated Code of Maryland, as amended, in the
construction of Projects and the provision of
services and supplies with such proceeds. Issuers
shall monitor compliance with this requirement by
recipients of bond proceeds.

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