clear space clear space clear space white space
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1988
Volume 770, Page 2835   View pdf image
 Jump to  
clear space clear space clear space white space


(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 Water Supply Facilities Loan of 1988 in
the total principal amount of $3,000,000. This loan shall be
evidenced by the issuance, sale, and delivery of State general
obligation bonds authorized by a resolution of the Board of
Public Works and issued, sold, and delivered in accordance with
§§ 8-117 through 8-124 of the State Finance and Procurement
Article and Article 31, § 22 of the Code.

(2)  The bonds to evidence this loan or installments of this
loan may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under § 8-122 of the
State Finance and Procurement Article.

(3)  The cash proceeds of the sale of the bonds shall be
paid to the Treasurer and first shall be applied to the payment
of the expenses of issuing, selling, and delivering the bonds,
unless funds for this purpose are otherwise provided, and then
shall be credited on the books of the Comptroller and expended,
on approval by the Board of Public Works, for the following
public purposes, including any applicable architects' and
engineers' fees: to be used by the Secretary of the Environment
to provide financial assistance to State and local governmental
entities for the purpose of assisting in the acquisition,
construction, equipping, rehabilitation, and improvement of water
supply facilities under the provisions of Chapter 306 of the Acts
of 1982, as amended, and Chapter 10.17.12 of the Code of Maryland
Regulations, as amended.

(4)  An annual State tax is imposed on all assessable
property in the State in an amount sufficient to pay the
principal of and interest on the bonds, as and when due and until
paid in full. The principal shall be discharged within 15 years
after the date of issue of the bonds.

take effect June 1, 1988.

Approved May 17, 1988.

- 2835 -


clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1988
Volume 770, Page 2835   View pdf image
 Jump to  

This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.

Tell Us What You Think About the Maryland State Archives Website!

An Archives of Maryland electronic publication.
For information contact

©Copyright  October 11, 2023
Maryland State Archives