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Ch. 75
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578
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LAWS OF MARYLAND
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the provisions of §§ 19 to 23 of Article 31 of the Annotated Code
of Maryland (1976 Replacement Volume and 1982 Supplement, as
amended from time to time).
(2) The bonds issued to evidence this loan or installments
thereof may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under § 2B of Article 31
of the Code.
(3) The actual cash proceeds of the sale of the bonds shall
be paid to the Treasurer and shall be first applied to the
payment of the expenses of issuing and delivering the bonds
unless funds for this purpose are otherwise provided and
thereafter shall be credited on the books of the State
Comptroller and expended, upon approval by the Board of Public
Works, for the following public purposes, including any
applicable architects' and engineers' fees: as a grant to the
City of Bowie for the purpose of renovation, restoration,
rehabilitation, repair, alteration, and improvement of the Belair
Mansion.
(4) There is hereby levied and imposed an annual State tax
on all assessable property in the State in rate and amount
sufficient to pay the principal of and interest on the bonds as
and when due and until paid in full, such principal to be
discharged within fifteen years of the date of issue of the
bonds.
(5) Prior to the payment of any funds under the provisions
of this Act for the purposes set forth in Section 1(3) above, the
City of Bowie shall provide at least an equal and matching fund
of $500,000. No part of an applicant's matching fund may be
provided, either directly or indirectly, from funds of the State
whether appropriated or unappropriated. Of this amount $300,000
may consist of real property, in kind contributions, or funds
expended prior to the effective date of this Act. The remaining
$200,000 may not consist of real property, in kind contributions,
or funds expended prior to the effective date of this Act. In
case of any dispute as to what money or assets may qualify as
matching funds, the Board of Public Works shall determine the
matter, and the Board's decision is final. The City of Bowie has
until June 1, 1985, to present evidence satisfactory to the Board
of Public Works that the matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify this
fact to the State Treasurer and the proceeds of the loan shall be
expended for the purposes provided in this Act. If this evidence
is not presented by June 1, 1985, the proceeds of the loan shall
be applied to the purposes authorized in Article 78A, § 3 of the
Code. Furthermore, the City of Bowie shall grant and convey a
perpetual preservation easement on the exterior and interior of
the structures, where appropriate, and on the land to the
Maryland Historical Trust, in form and substance acceptable to
the Trust.
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