1978                                       LAWS OF MARYLAND                                    Ch. 552

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall

take effect July 1, 1986.
Approved May 13, 1986.

CHAPTER 552

(House Bill 1262)
AN ACT concerning

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Creation of a State Debt - The Chimes, Inc.

FOR the purpose of authorizing the creation of a State Debt in

the amount of $50,000 $100,000 $50,000. the proceeds to be
used as a grant to The Chimes, Inc. for the purpose of the

planning, design, construction, and equipping of a
prevocational/vocational center in Baltimore County for
persons with developmental disabilities, subject to the
requirement that The Chimes, Inc. provide at least an equal
and matching fund of a certain kind for the same purpose by
a certain date; and providing generally for the issue and
sale of bonds evidencing the loan.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1)  The Board of Public Works may borrow money and incur
indebtedness on behalf of the State of Maryland through a State
loan to be known as The Chimes, Inc. Loan of 1986 in the total

principal amount of $50,000 $100,000 $50,000. This loan shall be
evidenced by the issuance, sale, and delivery of State general
obligation bonds authorized by a resolution of the Board of

Public Works and issued, sold, and delivered in accordance with
§§ 8-117 through 8-124 of the State Finance and Procurement
Article and Article 31, § 22 of the Code.

(2)  The bonds to evidence this loan or installments of this
loan may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under § 8-122 of the
State Finance and Procurement Article.

(3)  The cash proceeds of the sale of the bonds shall be
paid to the Treasurer and first shall be applied to the payment
of the expenses of issuing, selling, and delivering the bonds,
unless funds for this purpose are otherwise provided, and then
shall be credited on the books of the Comptroller and expended,

on approval by the Board of Public Works, for the following
public purposes, including any applicable architects' and
engineers' fees: as a grant to The Chimes, Inc. for the purpose
of the planning, design, construction, and equipping of a