WILLIAM DONALD SCHAEFER, Governor                      Ch. 93

(1)  Public officers and public agencies of the State
and its political [subdivision] SUBDIVISIONS;

(2)  Banks, trust companies, savings and loan
associations, investment companies, and others carrying on a
banking business;

(3)  Insurance companies and insurance associations
and others carrying on an insurance business;

(4)  Administrators, executors, guardians, trustees,
and other fiduciaries; and

(5)  All other persons.

(b) The bonds are securities which may properly and legally
be deposited with and received by any State or municipal office
or any agency or political subdivision of the State for any
purpose for which the deposit of bonds or other obligations of
the State is now or hereafter authorized by law.

19-110.

(a)  The title to any property acquired or constructed under
the provisions of this title shall be in the State of Maryland
for the use of [the System] A SYSTEM.

(b)  The State consents to the use of any lands owned by it
for the use of [the System] A SYSTEM which may be suitable and
necessary for the construction or operation of any of the
buildings and facilities authorized by the provisions of this
title and covenants that it will not revoke this consent during
the term of bonds secured by EDUCATIONAL AUXILIARY FACILITIES
FEES OR ACADEMIC fees or facilities constructed thereon.

19-111.

(A)  The provisions of this title, being necessary for the
welfare of the State and its inhabitants, shall be liberally
construed to effect the purposes thereof.

(B)  THE PROVISIONS OF THIS TITLE ARE SEVERABLE, AND IF ANY
OF SUCH PROVISIONS SHALL BE HELD UNCONSTITUTIONAL BY ANY COURT OF
COMPETENT JURISDICTION, THE DECISION OF SUCH COURT SHALL NOT
AFFECT OR IMPAIR ANY OF THE REMAINING PROVISIONS.

19-112.

THIS TITLE MAY BE REFERRED TO AS THE EDUCATIONAL AUXILIARY
AND ACADEMIC FACILITIES BOND ACT AUTHORITY.

Article - State Finance and Procurement

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