Ch. 235

2003 LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be
construed to apply only prospectively and may not be applied or interpreted to have
any effect on or application to an estate of a decedent who dies before the effective
date of this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2003.

Approved May 13, 2003.

CHAPTER 235
(Senate Bill 319)

AN ACT concerning

General Obligation and County Debt - Variable Interest Rate Bonds and
Interest Rate Exchange Agreements

FOR the purpose of authorizing certain State bonds to be sold at a private, negotiated
sale; allowing State bonds to be issued in a variable interest rate form;
authorizing the Treasurer to appoint and contract with and specify certain
rights and duties of certain agents; authorizing the Board of Public Works to
designate and sell certain State bonds as variable interest rate bonds; setting a
certain limit on the aggregate par value of outstanding variable interest rate
State bonds; authorizing the Treasurer to enter into certain interest rate
exchange agreements under certain circumstances; authorizing county
governing bodies to enter into certain interest rate exchange agreements under
certain circumstances; and generally relating to variable interest rate bonds and
interest rate exchange agreements.

BY repealing and reenacting, with amendments,
Article — State Finance and Procurement
Section 8-120, 8-121, and 8-123
Annotated Code of Maryland
(2001 Replacement Volume and 2002 Supplement)

BY adding to

Article - State Finance and Procurement

Section 8-123.4 and 8-136

Annotated Code of Maryland

(2001 Replacement Volume and 2002 Supplement)

BY adding to

Article 31 - Debt - Public

Section 34

Annotated Code of Maryland

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