§ 8-129

Maryland § 8-129

• Jurisdiction: Maryland
• Article gsf: State Finance and Procurement
• Title: 8

Text

(a) With the approval of the Board, the Governor shall dispose of unspent proceeds of an enabling act within 1 year after the termination of the State debt authorization under § 8-128 of this subtitle.

(b) The Governor shall:

(1) use the proceeds to reduce State debt authorizations, as provided in § 8-126(b) through (d) of this subtitle;

(2) allocate the proceeds to the Construction Contingency Fund, as provided in § 3-609 of this article; or

(3) order the proceeds to be credited to the Annuity Bond Fund, to pay the outstanding bonded indebtedness of the State.

(c) The Board shall enforce the provisions of this section.