H.B. 937                                                 VETOES

The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 937.                                                                                           

This bill establishes the legal authority and financing mechanism for the Maryland
Stadium Authority to oversee the development and construction of the Montgomery
County Conference Center.

Senate Bill 551, which was passed by the General Assembly and signed by me on May 14,
1996, accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 937.

Sincerely,

Parris N. Glendening

Governor

House Bill No. 937

AN ACT concerning

Economic Development - Montgomery County Conference Center

FOR the purpose of promoting economic development in this State by authorizing the
Maryland Stadium Authority to provide for the development and construction of
the Montgomery County Conference Center; altering the Authority's powers;
providing that certain lease payments to the Authority appropriated by the State for
certain facilities be maintained in certain funds; placing certain restrictions on the
issuance of certain bonds by the Authority; prohibiting the Authority from closing
on the sale of certain bonds or otherwise borrowing money in excess of a certain
amount with respect to the Montgomery County Conference Center facility unless
the Authority has secured certain deeds, leases, or written agreements with
Montgomery County and a private developer; establishing the Montgomery County
Conference Center Financing Fund; providing for the purposes, composition, and
investment of the Fund; requiring the Authority, in cooperation with the Office of
the Comptroller and the Department of Budget and Fiscal Planning, to submit an
annual report on the additional tax revenues generated by the Montgomery County
Conference Center facility; defining certain terms; altering certain definitions;
specifying that certain bonds not be included as tax supported debt prohibiting the
expenditure of certain funds until certain certification is received; making stylistic
changes; providing for the effective date of this Act; and generally relating to the
authority of the Maryland Stadium Authority to provide for the development and
construction of the Montgomery County Conference Center facility.

BY repealing and reenacting, with amendments,
Article - Financial Institutions

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