Section 8-111 – Meetings of Committee
(a) The Chairman shall call meetings of the Committee as needed to perform its duties. (b) The Committee shall invite the Executive Director of the Department of Legislative Services to attend the meetings of the Committee.
Section 8-112 – Duties of Committee
(a) The Committee shall review on a continuing basis the size and condition of the State tax supported debt as well as other debt of State units, including the University System of Maryland, Morgan State University, St. Mary’s College of Maryland, and the Baltimore City Community College. (b) On or before October 20 of each year, the […]
Section 8-113 – Preliminary Determinations of Governor
On or before November 1 of each year, after considering the current estimate of the Committee, the Governor shall determine: (1) the total authorizations of new State debt that the Governor considers advisable for the next fiscal year; and (2) the preliminary allocation of new State debt for: (i) general construction projects; (ii) school construction projects; and (iii) other special […]
Section 8-114 – Consolidated Loan Budget
(a) The Department of Budget and Management annually shall prepare for the Governor a draft of the part of the consolidated loan budget that relates to general construction projects. (b) On or before the 20th day of each regular session of the General Assembly, the Governor shall submit to the General Assembly: (1) the consolidated loan budget; and […]
Section 8-117 – Enabling Acts
(a) The General Assembly may authorize the Board to: (1) borrow money for any public purpose; and (2) issue State bonds to evidence the debt. (b) An enabling act shall specify the total principal amount of the debt authorized by the enabling act. (c) An enabling act may take substantially the following form: “A BILL ENTITLED AN ACT concerning Creation […]