WILLIAM DONALD SCHAEFER, Governor                            Ch. 4

THROUGH 1990, AS AMENDED, AND AS THE BOARD OF PUBLIC WORKS
SHALL SPECIFY, UPON SALE OF THE BONDS, SHALL BE USED TO PROVIDE
A PORTION OF THE FUNDS FOR THE STATE CORRECTIONAL FACILITIES
CONTINGENCY FUND; AND

(3) THE EXPENDITURE OF UNSPENT BOND PROCEEDS FROM THE
STATE CORRECTIONAL FACILITIES CONTINGENCY FUND PURSUANT TO
THIS SECTION SHALL REQUIRE THAT THE SPECIFIC PROJECTS FOR WHICH
THOSE FUNDS ARE EXPENDED BE REPORTED TO THE BUDGET
COMMITTEES FOR REVIEW AND COMMENT.

SECTION 3. AND BE IT FURTHER ENACTED, That the General Assembly
declares that it is the public policy of this State to manage State general obligation bond
debt in a manner that will maintain Maryland's triple-A bond rating. The General
Assembly further declares that legislative oversight, control, and review of all forms of
State obligations is essential to maintenance of the State's existing bond rating and
protection of the fiscal integrity of the State.

SECTION 4. AND BE IT FURTHER ENACTED, That in order to carry out the
provisions of this Act, the Board of Public Works, upon recommendation of the Secretary
of Budget and Fiscal Planning, is authorized to place any proceeds from the sale of bonds
in a contingency reserve available for subsequent expenditure.

SECTION 5. AND BE IT FURTHER ENACTED, That before work may
commence pursuant to any supplement to any appropriation contained herein,
satisfactory assurance must be given to the Board of Public Works that the project can be
completed with the aggregate of the funds herein and heretofore appropriated for the
stated purpose.

SECTION 6. AND BE IT FURTHER ENACTED, That with the approval of the
Department of Budget and Fiscal Planning, any appropriation for construction provided
in this Act may be used to purchase capital equipment if the amount of the appropriation
exceeds the amount required for construction expenses, including allowances for
contingencies.

SECTION 7. AND BE IT FURTHER ENACTED, That except as otherwise
provided in this Act, before a State agency or institution named in this Act as responsible
for an individual item may begin work with funds appropriated by this Act, the agency or
institution shall provide satisfactory evidence to the Board of Public Works that the work
described in the individual item can be completed with the funds specified for that item.

SECTION 8. AND BE IT FURTHER ENACTED, That with the approval of the
Department of Budget and Fiscal Planning, any appropriation for construction or
equipment under the provisions of this Act or any appropriation for the General
Construction Project Contingency Fund established under § 3-609 of the State Finance
and Procurement Article that is in excess of the amount needed for a project may be
credited to the Construction Contingency Fund under Section 1(3) 23.05.02 of this Act.
Provided that an appropriation may not be credited to the Construction Contingency

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