Ch. 301 1997 LAWS OF MARYLAND

Approved April 29, 1997.

CHAPTER 301
(House Bill 1442)

AN ACT concerning

Creation of a State Debt - Montgomery County - Raising Hispanic Hispanic Academic

Achievement, Inc.

FOR the purpose of authorizing the creation of a State Debt not to exceed $250,000
$100,000 $200,000, the proceeds to be used as a grant to the Board of Directors of
Raising Hispanic Hispanic Academic Achievement, Inc. 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 Montgomery
County - Raising Hispanic Hispanic Academic Achievement, Inc. Loan of 1997 in a total
principal amount equal to the lesser of (i) $250,000 $100,000 $200,000 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 Board of Directors of Raising Hispanic Hispanic Academic
Achievement, Inc. (referred to hereafter in this Act as "the grantee") for the acquisition,
repair, and renovation of, and for the provision of capita! equipment and furniture for, a
facility in the Montgomery Blair High School community, the facility to be used for
academic counseling of Hispanic students, the counseling services to include career
development programs, course reviews for students, and project management by Raising
Hispanic Hispanic Academic Achievement, Inc.

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