Ch. 732

LAWS OF MARYLAND

(ii) A payment schedule that provides money to
the applicant in the amounts and at the times that the applicant
needs the money to perform the [government] contract;

(iii) A requirement that, before each advance
of money is released to the applicant, the applicant and the
Authority cosign the request for the money; and

(iv) Provisions for repayment of the loan.

(2) The loan documents may include any other
provision that the Authority determines is necessary to secure
the loan, including, if allowable, an assignment of or a lien on
payment under the [government] contract.

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

Approved May 25, 1989.

CHAPTER 732

(House Bill 1224)

AN ACT concerning

Capital Appreciation State Bonds

FOR the purpose of authorizing the Board of Public Works to issue
capital appreciation and small denomination bonds;
specifying that State bonds may be in a capital appreciation
form; permitting a certain percentage of State bonds to be
sold as capital appreciation bonds; requiring that certain
limits be placed on the purchase of these and small
denomination bonds; providing that the bonds be sold in a
certain manner; requiring that the principal and interest on
the bonds be payable on a fixed date; defining certain
terms; and generally relating to the issuance and sale of
capital appreciation and small denomination bonds in
Maryland.

BY repealing and reenacting, with amendments,

Article - State Finance and Procurement
Section 8-101, 8-117(a), and 8-121(a)
Annotated Code of Maryland
(1988 Replacement Volume)

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