WILLIAM DONALD SCHAEFER, Governor

notwithstanding any applicable law, charter, ordinance, or other
corporate document, any Issuer receiving an allocation pursuant
to this Proclamation may transfer any portion of its allocation
to a State Issuer for the issuance of any Private Activity Bonds.
Any State Issuer, with the approval of the Secretary, may
transfer any portion of any allocation transferred to it,
including any allocation transferred for use as Housing Bonds, to
any other Issuer for the issuance of any Private Activity Bonds;
however, the Secretary may place any conditions on such transfer
as he deems appropriate. Any allocation of Housing Bonds
transferred to the Community Development Administration by a
Local Issuer may be transferred to any other Issuer only with the
approval of the Secretary and the Local Issuer that transferred
the allocation to the Community Development Administration.

Section 9. Information Report.

(a)  Unless compliance with Section of 6(b)(2)(D)
above requires a shorter time period, the Secretary shall receive
a copy of the fully executed Information Report filed or to be
filed with the Internal Revenue Service ("IRS") and the Section
14-107 Certificate, if applicable, within 10 business days after
the date on which any Issuer issues Private Activity Bonds. The
Secretary may extend or waive this deadline for good cause shown.

(b)  Any Private Activity Bond for which the fully
executed Information Report filed or to be filed with the IRS or
the Section 14-107 Certificate, if applicable, is not received in
accordance with this Section shall be deemed not to have received
an allocation of the Maryland State Ceiling.

(c)  The Secretary may require earlier filing of the
final or draft Information Report and any other forms or reports
that the Secretary considers necessary or desirable.

Section 10. Certifications by Secretary.

In order to show compliance with the Code and at the
requests of an Issuer or its bond counsel made in connection with
the issuance of any bonds requiring an allocation by such Issuer,
the Secretary may certify to the best of his knowledge,
information and belief as of the date of such certification the
following:

(1)  the allocation to such Issuer of a portion
of the Maryland State Ceiling for such bond issuance;

(2)  the continuing effect of such allocation;

(3)  the fact that the total allocations have
been made in accordance with Section 146 of the Code; and

(4)  any other similar or related matters that

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