WILLIAM DONALD SCHAEFER, Governor Ch. 690

(f) No public body issuing bonds under this section may
have issued and outstanding at [any time] THE TIME BONDS ARE
ISSUED more than THE GREATER OF:

(1)  $1,000,000 aggregate principal amount of such
bonds; OR

(2)  AN AGGREGATE PRINCIPAL AMOUNT OF SUCH BONDS EQUAL
TO 10 PERCENT OF THE TOTAL OUTSTANDING BONDED INDEBTEDNESS OF THE
PUBLIC BODY AT THE TIME THE BONDS ARE ISSUED.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 25, 1989.

CHAPTER 690
(House Bill 799)

AN ACT concerning

Chesapeake Bay and Tributaries Navigable Waters of the State -
Constructing New Slips and Marinas

FOR the purpose of prohibiting a person from constructing, after
a certain time, additional slips at certain marinas under
certain circumstances or constructing certain marinas with a
certain number of slips on certain waters of the Chesapeake
Bay or its tributaries State unless certain conditions are
met; providing for the scope and application of this Act;
and generally relating to the construction after a certain
time of additional slips at certain marinas or the
construction of certain marinas that do not have the use of
certain pump-out facilities.

BY repealing and reenacting, without amendments,

Article - Natural Resources

Section 8-707(a)(4) and 8-708(a) and (b)

Annotated Code of Maryland

(1983 Replacement Volume and 1988 Supplement)

BY adding to

Article - Natural Resources

Section 8-709.1

Annotated Code of Maryland

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