Ch. 660                                    1997 LAWS OF MARYLAND

SECTION 12. AND BE IT FURTHER ENACTED, That the net new debt to be
authorized by legislation in Fiscal Year 1998 shall not exceed $415,000,000, as evidenced
by the following:

FY 1998 Debt to be Authorized by This Bill................................... $382,736,000

$384,753,000

FY 1998 Debt to be Authorized by Separate Legislation

for Independent Colleges and Universities...........................            6,000,000

FY 1998 Debt to be Authorized by Separate Legislation

for Private Hospitals...............................................................            5,000,000

FY 1998 Debt to be Authorized by Separate Legislation for

Projects of Subdivisions and Nonprofit Organizations.........          22,402,000

20,380 000

SUBTOTAL........................................................................................ $416,138,000

Reductions in Previously Authorized State Debt Made in

This Bill....................................................................................         (1,140,000)

NET NEW DEBT TO BE AUTHORIZED IN FY 1998                     $114,998,000

$414,993,000

SUMMARY OF REDUCTIONS IN PREVIOUSLY AUTHORIZED STATE DEBT

Reductions in Previously  Current Amount       Reduced Amount

Authorized State Debt          of Authorization    of Authorization             Reduction

Chapter 421 of the Acts of

1990 (Maryland Consolidated

Bond Loan) as amended                     239.502,131              239,012,131               490,000

Chapter 608 of the Acts of

1991 (Lillie Carroll Jackson

Loan) as amended                                   100,000                           0                   100,000

Chapter 121 of the Acts of

1994 (Greater Baltimore Cultural

Arts Foundation Loan)                            500,000                          0                   500,000

Chapter 310 of the Acts of

1995 (Ward Brothers

Homeplace Loan)                                      50,000                           0                     50,000

Total Reduction in Previously

Authorized State Debt                                                                                    1.140.000

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