WILLIAM DONALD SCHAEFER, Governor
(B) [(2)] General Rules.

(I)  [(A)] Issuers may request a reallocation
for a specific Project by filing with the Secretary a draft
of the information report required by Section 149(e) of the
Code (the "Information Report"), and the information
required by Sections B(4)(D) AND (E) [2(d)(4) and (5)]
above. The Secretary shall make a reservation of any
reallocation in writing.

(II)  [(B)] A reservation made by the
Secretary under Section F(2)(B)(I) [6(b)(2)(A)] above shall
expire on the date specified in the reservation.

(III)  [(C)] The Issuer named on the draft
Information Report shall indicate either (AA)[(1)] on the
draft Information Report or (BB)[(2)] by cover letter
attached to the draft Information Report whether the
proposed bond issue is being privately placed or publicly
sold and the type of Private Activity Bonds to be issued.

(IV)  [(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 (2)(B)(II)
[(b)(2)(B)] above:

(AA) [(i)] the bonds requiring the
allocation are issued; and

(BB) [(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 14-107 of Article 41 of the Annotated
Code of Maryland, as amended (the "Section 14-107
Certificate").

(3) [(c)] (A) [(1)] No reallocations for carryforward
Projects shall be made between October 1, 1987 and December
22, 1987 but applications may be filed with the Secretary
during this period.

(B) [(2)] Beginning December 23, 1987 through
December 31, 1987 the Secretary may make reallocations for
those qualifying carryforward Projects to the extent
permitted by the Code.

G. [Section 7.] Minority Consideration.

(1) [(a)] In addition to any other requirements imposed
by this Proclamation, the recipients of the proceeds of
Private Activity Bonds shall make best efforts to use
Minority Business Enterprises in the construction of

- 5515 -