Ch. 567 LAWS OF MARYLAND

(2) THE VALUE OF THE PROPERTY SOUGHT TO BE
CONDEMNED SHALL BE DETERMINED AS OF THE DATE OF THE TAKING.

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

Approved May 29, 1990.

CHAPTER 567
(House Bill 445)

AN ACT concerning

Creation of a State Debt - Riversdale Mansion

FOR the purpose of authorizing the creation of a State Debt in the amount of $500,000
the proceeds to be used as a grant to the Maryland-National Capital Park and
Planning Commission for the restoration, reconstruction, and rehabilitation of the
Riversdale Mansion, also known as the Calvert Mansion, located in Prince
George's County, subject to the requirement that the Maryland-National Capital
Park and Planning Commission 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 Riversdale
Mansion Loan of 1990 in the total principal amount of $500,000. 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 Maryland-National Capital Park and Planning
Commission for the restoration, reconstruction, and rehabilitation of the Riversdale
Mansion, also known as the Calvert Mansion, located in Prince George's County.

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