Md. Code, State Fin. & Proc. § 8-129
Md. Code, State Fin. & Proc. § 8-129
Maryland · Maryland Code, State Finance and Procurement · Status: effective
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- Citation
- Md. Code, State Fin. & Proc. § 8-129, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1787331
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Full 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.