WASHINGTON -- The Maryland Water Quality Financing Administration has indefinitely postponed plans for two bond issues in the wake of a criminal investigation into possible theft from the administration's revolving loan accounts.

Michael Sullivan, a spokesman for the Maryland Department of the Environment, said the apparent theft of about $1.2 million from the water administration's loan accounts during 1992 and 1993 should have no impact on the $129.6 million of revenue bonds the administration has outstanding.

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