Ch. 348 LAWS OF MARYLAND

Hospital, subject to the requirement that The Memorial Hospital at Easton, MD.,
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 Memorial
Hospital Loan of 1990 in the total principal amount of $2,000,000 $500,000 $600,000.
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 Memorial Hospital at Easton, MD., Inc., for the
purpose of the planning, design, construction, and equipping of a regional cancer center
in Easton, Maryland and for the purpose of the planning, design, construction,
reconstruction, renovation, expansion, modernization, and equipping of the surgical
facilities at Memorial Hospital.

(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
purposes set forth in Section 1(3) above, The Memorial Hospital at Easton, MD., Inc.,
shall provide at least an equal and matching fund of $2,000,000 $500,000 $600,000. No
part of an applicant's matching fund may be provided, either directly or indirectly, from
funds of the State, whether appropriated or unappropriated. No part of the fund may
consist of real property or in kind contributions. The fund may consist of funds
expended prior to the effective date of this Act. In case of any dispute as to what money
or assets may qualify as matching funds, the Board of Public Works shall determine the
matter, and the Board's decision is final. The Memorial Hospital at Easton, MD., Inc.,
has until June 1, 1992, to present evidence satisfactory to the Board of Public Works
that the matching fund will be provided. If satisfactory evidence is presented, the Board
shall certify this fact to the State Treasurer and the proceeds of the loan shall be
expended for the purposes provided in this Act. If this evidence is not presented by

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