WILLIAM DONALD SCHAEFER, Governor Ch. 554

(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 Jobs
in Energy Project Loan of 1990 in the total principal amount of $190,000 $150,000. 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 Baltimore Jobs in Energy Project for the
renovation and rehabilitation of the former Southern District Police Station, located at
28 East Ostend Street, Baltimore to be used as office space for the Project, a youth
center, and office space for other nonprofit organizations.

(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 Baltimore Jobs in Energy Project shall
provide at least an equal and matching fund of $190,000 $150,000. 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 matching 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 Baltimore Jobs in Energy Project 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 the loan shall be applied to the purposes authorized in § 8-129 of the
State Finance and Procurement Article.

(6) (a) The Baltimore Jobs in Energy Project shall grant and convey to the
Maryland Historical Trust a perpetual preservation easement to the extent of its
interest:

(i) On the land or such portion of the land acceptable to the Trust;
and

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