Ch. 294 LAWS OF MARYLAND

the proceeds of the loan shall be applied to the purposes authorized in § 8-129 of the
State Finance and Procurement Article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 1990.

Approved May 2, 1990.

CHAPTER 294
(Senate Bill 912)

AN ACT concerning

Baltimore Association for Retarded Citizens, Inc. Loan of 1986

FOR the purpose of amending Chapter 554 of the Acts of the General Assembly of
1986 to reduce the amount of the loan and to alter the purpose of the loan.

BY repealing and reenacting, with amendments,

Chapter 554 of the Acts of the General Assembly of 1986
Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 554 of the Acts of 1986

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
Association for Retarded Citizens, Inc. Loan of 1986 in the total principal amount of
[$150,000] $87,500. 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 Baltimore Association for Retarded Citizens, Inc. for

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