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<section article="gsf" article_name="State Finance and Procurement" number="8-132" title_number="8" title_name="Debt" subtitle_number="1" subtitle_name="General Obligation Debt">
  <level label="a">
    <text>In this section, “Code” means the Internal Revenue Code of 1986 and includes regulations and rulings issued under that Code.</text>
  </level>
  <level label="b">
    <text>There is an Annuity Bond Fund.</text>
  </level>
  <level label="c">
    <text>The Comptroller shall:</text>
    <level label="1">
      <text>credit to the Annuity Bond Fund any money appropriated in the State budget to:</text>
      <level label="i">
        <text>meet the debt service requirements on State bonds; and</text>
      </level>
      <level label="ii">
        <text>pay the costs of fiscal agents and other contracting parties appointed by the State Treasurer under §§ 8–121 and 8–136 of this subtitle; and</text>
      </level>
    </level>
    <level label="2">
      <text>as specified in the appropriation, use the money to meet the debt service on the State bonds and pay fiscal agents and other contracting parties’ costs.</text>
    </level>
  </level>
  <level label="d">
    <text>Any premium from the sale of State bonds transferred to the Annuity Bond Fund under § 8–125 of this subtitle may be used to pay for:</text>
    <level label="1">
      <text>debt service on State bonds;</text>
    </level>
    <level label="2">
      <text>capital projects; or</text>
    </level>
    <level label="3">
      <text>if necessary or appropriate from time to time to comply with the requirements of the Code, any other use authorized by the Code.</text>
    </level>
  </level>
</section>
