Ch. 306 LAWS OF MARYLAND

CHAPTER 306
(House Bill 236)

AN ACT concerning

Creation of a State Debt - YWCA of Annapolis and Anne Arundel County

FOR the purpose of authorizing the creation of a State Debt in the amount of $300,000
$250,000 the proceeds to be used as a grant to the YWCA of Annapolis and Anne
Arundel County for the acquisition of land and the construction of a building in
Anne Arundel County that will contain a day care center, the YWCA Parenting
Center, the YWCA Woman's Center, and administrative offices; subject to the
requirement that the YWCA of Annapolis and Anne Arundel County provide at
least an equal and matching fund of a certain kind for the same purpose by a
certain date; providing that no proceeds of a loan or any matching funds may be
used for religious purposes; 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 YWCA of
Annapolis and Anne Arundel County Loan of 1990 in the total principal amount of
$300,000 $250,000. 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 YWCA of Annapolis and Anne Arundel County
for the acquisition of land and the construction of a building in Anne Arundel County
that will contain a day care center, the YWCA Parenting Center, the YWCA Woman's
Center, and administrative offices.

(4) An annual State tax is imposed 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. The principal shall be discharged within 15 years after the
date of issue of the bonds.

(5) Prior to the payment of any funds under the provisions of this Act for the

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