May 26, 2004

The Honorable Michael E. Busch
Speaker of the House
State House
Annapolis, MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 689 - General Obligation Bonds - Payment and Accounting for Principal and Interest.

This bill requires the State's fiscal agents to provide an accounting of specified State bonds and coupons that have not been redeemed in a specified period and the total unredeemed principal and interest on specified State bonds and coupons. It requires the Treasurer to deposit unredeemed principal and interest into the unpresented bond and coupon account, and requires the Treasurer to dispose of specified money according to specified statutes.

Senate Bill 433, which was passed by the General Assembly and signed by me on April 27, 2004, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 689.

Very truly yours,
Robert L. Ehrlich, Jr.