Ch. 505 1997 LAWS OF MARYLAND

CHAPTER 505
(House Bill 976)

AN ACT concerning

State Bonds - Annuity Bond Fund

FOR the purpose of providing that certain funds from a State bond sale may be
transferred to the Annuity Bond Fund without waiting until all of the State bonds
have been issued under the enabling act for which a premium and expense account
is established; and generally relating to State bonds and the Annuity Bond Fund.

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 8-125(c)
Annotated Code of Maryland
(1995 Replacement Volume and 1996 Supplement)

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

Article - State Finance and Procurement

8-125.

(c) (1) To the extent payment of these expenses is not otherwise provided for,
each premium and expense account shall be charged with the expenses of the sale of State
bonds issued under the enabling act for which the account is established.

(2) After [all of the State bonds have been issued under the enabling act for
which a premium and expense account is established and] all expenses of the sale of
[those] State bonds have been paid, the money that remains in the account shall be
transferred to the Annuity Bond Fund, to be applied to the debt service requirements on
State bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 8, 1997.

CHAPTER 506
(House Bill 999)

AN ACT concerning

Prince George's County - Alcoholic Beverages
(Multiple Class BLX Licenses)

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