Ch. 432

2004 LAWS OF MARYLAND

portion thereof are to be paid and the amount to be paid upon such dates, respectively.
The bonds issued pursuant to this Act, their transfer, the interest payable thereon,
and any income derived therefrom, including any profit realized in the sale or
exchange thereof, shall at all times be exempt from taxation of every kind and nature
whatsoever within this State by the State of Maryland or by any of its political
subdivisions, municipal corporations, or public agencies of any kind.

SECTION 2. AND BE IT FURTHER ENACTED, That the Board of Public
Works is hereby authorized and empowered to have prepared proper bonds of the
State in good and sufficient form to aggregate the amount of [Fifty Million Dollars
($50,000,000)] FORTY-EIGHT MILLION, TWO HUNDRED TWENTY-THREE
THOUSAND DOLLARS ($48,223,000), as evidence of such loan; such bonds shall bear
date as of the time of their issue as provided in Section 1 of this Act. Each of said
bonds shall be signed and countersigned in the manner prescribed by Section 3 of
Article VI of the Maryland Constitution.

Chapter 610 of the Acts of 1986

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Chesapeake
Bay Water Quality Loan of 1986 in the total principal amount of [$27,350,000]
$26,611,620. This loan shall be evidenced by the issuance, sale, and delivery of State
general obligation bonds authorized by a resolution of the Board of Public Works and
issued, sold, and delivered in accordance with §§ 8-117 through 8-124 of the State
Finance and Procurement Article and Article 31, § 22 of the Code.

Chapter 458 of the Acts of 1987

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Chesapeake
Bay Water Quality Loan of 1987 in the total principal amount of [$25,400,000]
$25,153,087. This loan shall be evidenced by the issuance, sale, and delivery of State
general obligation bonds authorized by a resolution of the Board of Public Works and
issued, sold, and delivered in accordance with §§ 8-117 through 8-124 of the State
Finance and Procurement Article and Article 31, § 22 of the Code.

Chapter 668 of the Acts of 1988

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Chesapeake
Bay Water Quality Loan of 1988 in the total principal amount of [$17,700,000]
$17,314,639. This loan shall be evidenced by the issuance, sale, and delivery of State
general obligation bonds authorized by a resolution of the Board of Public Works and

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