CHAPTER 121

(Senate Bill 279)

AN ACT concerning

Creation of a State Debt - Baltimore County - Catonsville Revitalization Project

FOR the purpose of authorizing the creation of a State Debt not to exceed $1,000,000
$250,000, the proceeds to be used as a grant to the County Executive and County
Council of Baltimore County for certain acquisition, development, or improvement
purposes; providing for disbursement of the loan proceeds, subject to a requirement
that the grantee provide and expend a matching fund; and providing generally for
the issuance 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 Baltimore
County - Catonsville Revitalization Project Loan of 1996 in a total principal amount
equal to the lesser of (i) $1,000,000 $250.000 or (ii) the amount of the matching fund
provided in accordance with Section 1(5) below. 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 County Executive and County Council of Baltimore County (referred to
hereafter in this Act as "the grantee") for the revitalization of downtown Catonsville,
including streetscaping that entails realignment of intersections, moving of utility poles,
and improvement of parking, and other alterations that will make the downtown area of
Catonsville easily accessible to pedestrian and vehicular traffic, safe, attractive, and
amenable to economic development.

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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1996.

Approved April 30, 1996.

Ch. 121

1996 LAWS OF MARYLAND