WILLIAM DONALD SCHAEFER, Governor Ch. 603

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

Approved May 29, 1990.

CHAPTER 603
(House Bill 811)

AN ACT concerning

Creation of a State Debt - Baltimore County - Balestone Manor

BCO 25-90

FOR the purpose of authorizing the creation of a State Debt in the amount of $50,000
the proceeds to be used as a grant to the County Executive and County Council of
Baltimore County for the restoration and renovation of the Balestone Manor in
Baltimore County, subject to the requirement that the County Executive and
County Council of Baltimore County provide at least an equal and matching fund
of a certain kind for the same purpose by a certain date; requiring that certain
easements be granted to the Maryland Historical Trust; 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 Baltimore
County - Balestone Manor Loan of 1990 in the total principal amount of $50,000. 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 County Executive and County Council of
Baltimore County for the restoration and renovation of the Balestone Manor in
Baltimore County.

(4) An annual State tax is imposed on all assessable property in the State in rate

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