Ch. 255

LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That, pursuant to
Article III, Section 35 of the Constitution of Maryland, this Act
may not be construed to extend or apply to the salary or
compensation of the Caroline County treasurer in office on the
effective date of this Act, but the provisions of this Act
concerning the salary or compensation of the Caroline County
treasurer shall take effect at the beginning of the next-
following term of office.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 5, 1989.

CHAPTER 255                         

(House Bill 1059)

AN ACT concerning

Department of Transportation Bonds - Sinking Fund Requirements

FOR the purpose of authorizing an alternative means of satisfying
certain sinking fund requirements with respect to issues of
consolidated transportation bonds and county transportation
bonds sold after June 1, 1989 under certain circumstances;
providing that the sinking fund requirements established for
consolidated transportation bonds and county transportation
bonds sold before June 1, 1989 shall remain unchanged;
defining terms; prohibiting the Department of Transportation
from using certain additional bonding capacity for certain
purposes for a certain period of time; and generally
relating to the issuance of consolidated transportation
bonds and county transportation bonds.

BY adding to

Article - Transportation

Section 3-104

Annotated Code of Maryland

(1977 Volume and 1988 Supplement)

BY repealing and reenacting, with amendments,

Article - Transportation
Section 3-215(c) and 3-307(b)
Annotated Code of Maryland
(1977 Volume and 1988 Supplement)

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