Md. Code, State Finance and Procurement § 8-129
This is the official text of Md. Code, State Finance and Procurement § 8-129, part of Maryland’s Code, State Finance and Procurement — governs the state budget and government contracting.
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§8–129.
Official statutory 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.
(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.
Status: in_force · Read it on the official government site
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