Ch. 327

1996 LAWS OF MARYLAND

for the effective date of the this Act; and generally relating to the Maryland Stadium
Authority.

BY repealing and reenacting, without amendments,
Article - Financial Institutions
Section 13-701(a) and (b)
Annotated Code of Maryland
(1992 Replacement Volume and 1995 Supplement)

BY repealing and reenacting, with amendments.
Article - Financial Institutions
Section 13-712.1(4) and 13-721(b)
Annotated Code of Maryland
(1992 Replacement Volume and 1995 Supplement)

BY adding to

Article - Financial Institutions

Section 13-712.2 13-715.2 and 13-715.3

Annotated Code of Maryland

(1992 Replacement Volume and 1995 Supplement)

BY adding to

Article - State Finance and Procurement

Section 7-326

Annotated Code of Maryland

(1995 Replacement Volume and 1995 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

13-701.

(a)     In this subtitle the following words have the meanings indicated.

(b)     "Authority" means the Maryland Stadium Authority.
13-712.2.

(A)    SUBJECT TO SUBSECTION (D) OF THIS SECTION, THE AUTHORITY MAY
BORROW UP TO $24,000,000, UNDER TERMS AND CONDITIONS THAT THE AUTHORITY
DETERMINES, FOR THE CONSTRUCTION OF THE FOOTBALL STADIUM INCLUDING
THE CONSTRUCTION, FITTING OUT, AND FURNISHING OF THE PRIVATE SUITES THAT
ARE PART OF THE FOOTBALL STADIUM.

(B)     THE FOOTBALL TEAM THAT LEASES THE STADIUM SHALL AGREE TO
REPAY THE AMOUNT BORROWED UNDER THE TERMS AND CONDITIONS
DETERMINED BY THE AUTHORITY.

- 1994 -