Ch. 400

LAWS OF MARYLAND

(1)  TO INVEST THE RETAINAGE PLACED IN THE ESCROW
ACCOUNT; AND

(2)  TO THE EXTENT THE CONTRACTOR IS ENTITLED TO
RETAINAGE UNDER SUBSECTION (F)(2)(II) OF THIS SECTION, TO PAY THE
EARNINGS ON THE INVESTMENT TO THE CONTRACTOR.

(F) (1) RETAINAGE MAY BE RELEASED TO THE CONTRACTOR ONLY AS
DIRECTED BY THE TRANSPORTATION UNIT.

(2) AT THE TIME OF FINAL PAYMENT, THE TRANSPORTATION
UNIT SHALL DIRECT THE ESCROW AGENT TO SETTLE THE ESCROW ACCOUNT
BY DISTRIBUTING MONEY IN THE ESCROW ACCOUNT IN THE FOLLOWING
ORDER;

(I)  TO THE TRANSPORTATION UNIT FOR ANY CLAIM IT
MAY HAVE AGAINST THE CONTRACTOR UNDER THE PROCUREMENT CONTRACT;

(II)  UNLESS WAIVED BY THE BOARD, TO THE
COMPTROLLER FOR ANY CLAIM EXCEEDING $50 AGAINST THE CONTRACTOR BY
THE STATE, A UNIT, OR A STATE CONTROLLED GOVERNMENTAL ENTITY; AND

(III)  TO THE CONTRACTOR.

SECTION 4. AND BE IT FURTHER ENACTED, That Section 1 of
this Act shall take effect July 1, 1988 and shall remain
effective through September 30, 1988.

SECTION 5. AND BE IT FURTHER ENACTED, That Sections 2 and 3
of this Act shall take effect October 1, 1988.

Approved May 17, 1988.

CHAPTER 400

(House Bill 382)

AN ACT concerning

Frederick County - Finance and Taxation

FOR the purpose of changing, for finance and taxation matters for
Frederick County, the referenced reference to surplus
budgeted funds from "surplus" to "any actual or estimated
undesignated general fund balance available for
appropriation"; providing for an annual unappropriated
designated general fund balance of the general fund
expenditures for the preceding fiscal year; authorizing the

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