HARRY HUGHES, Governor

963

CHAPTER 297

(Senate Bill 997)

AN ACT concerning

Maryland Environmental Service - Reserve Fund

FOR the purpose of creating a reserve fund for the
operations and projects of the Maryland Environmental
Service; and providing for its disbursement and for
payment of excess moneys to the general fund.

BY adding to

Article - Natural Resources
Section 3-103(j )
Annotated Code of Maryland
(1974 Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Natural Resources

3-103.

(J) (1) THERE IS A SERVICE RESERVE FUND.

(2)  THE FUND CONSISTS OF APPROPRIATED SPECIAL
FUNDS THAT ARE:

(I)  OBTAINED FROM A PROJECT OR OPERATION
OF THE SERVICE;

(II)  NOT EXPENDED OR OBLIGATED IN THE
FISCAL YEAR DURING WHICH THE FUNDS ARE RECEIVED; AND

(III)  NOT HELD BY OR PAYABLE TO A TRUSTEE
APPOINTED IN ACCORDANCE WITH A RESOLUTION THAT AUTHORIZES
THE ISSUANCE OF BONDS OR NOTES OR UNDER A TRUST AGREEMENT
THAT SECURES THE BONDS OR NOTES.

(3)  THESE FUNDS SHALL BE PAID TO THE STATE
TREASURER.

(4)  THE STATE TREASURER SHALL DISBURSE THE FUNDS
FOR OPERATIONS AND PROJECTS OF THE SERVICE IN ACCORDANCE
WITH AN APPROPRIATION OF THE GENERAL ASSEMBLY.