Ch. 535                                          LAWS OF MARYLAND

Senate Economic and Environmental Affairs Committee and the House
Environmental Matters Committee in developing legislative
proposals for promoting a major aquaculture industry for the
tidal waters of the State, including establishment of Aquaculture
Management Areas that would provide for the private leasing of
designated areas of bottom and water-columns of the Bay and its

tributaries.____The Advisory Committee shall finalize its

legislative proposals on or before November 1, 1988 for
presentation to the General Assembly.

SECTION 4 6 5. AND BE IT FURTHER ENACTED, That Section 1
Sections l, 4, and 5 and 4 of this Act shall take effect July
June 1, 1988.

Approved May 27, 1988.

CHAPTER 535

(House Bill 622)

AN ACT concerning

Maryland Water Quality Financing Administration and
Revolving Loan Fund

FOR the purpose of establishing a Maryland Water Quality
Financing Administration in the Department of the
Environment; defining certain terms; providing for the
appointment of a Director of the Administration; providing
for the powers of the Administration, including the power to
enter into contracts, issue bonds, including bond
anticipation notes, revenue and grant anticipation notes,
and refunding bonds, make loans to local governments for the
purpose of financing wastewater facilities, and exercise all
other related powers; requiring the prior approval of the
Secretary of the Environment and the Board of Public Works
before the Administration issues bonds; establishing a
Maryland Water Quality Revolving Loan Fund as a continuing,
nonlapsing fund to be maintained held by the Treasurer,
accounted for by the Comptroller, and administered by the
Administration; authorizing local governments to enter into
loan agreements with the Authority Administration and to
pledge certain revenues in connection with those agreements;
requiring certain records, an audit and an annual report;
and generally relating to the establishment, powers, and
duties of a Maryland Water Quality Financing Administration
and the creation and administration of a Maryland Water
Quality Revolving Loan Fund.

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