WILLIAM DONALD SCHAEFER, Governor Ch. 544

Hagerstown to renovate the YMCA building in Hagerstown to make the building
accessible to the handicapped, subject to the requirement that the Board of
Directors of the YMCA in Hagerstown 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 Hagerstown
YMCA Loan of 1990 in the total principal amount of $125,000. 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 Board of Directors of the YMCA in Hagerstown
to renovate the YMCA building in Hagerstown to make the building accessible to the
handicapped.

(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 Board of Directors of the YMCA in
Hagerstown shall provide at least an equal and matching fund of $125,000. 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, in kind contributions, or 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 Board of Directors of the YMCA in Hagerstown 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 June 1, 1992, the proceeds of

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