WILLIAM DONALD SCHAEFER, Governor Ch. 667

METHOD IN VALUING INCOME PRODUCING COMMERCIAL REAL
PROPERTY.

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

CHAPTER 667
(House Bill 1223)

AN ACT concerning

Creation of a State Debt - Legal Aid Bureau, Inc.

FOR the purpose of authorizing the creation of a State Debt in the amount of
$1,500,000 $000,000 $750,000 the proceeds to be used as a grant to the Legal Aid
Bureau, Inc. for the design, construction, and equipping of a new facility in
Baltimore City that will house the coordinating unit for the services of the Legal
Aid Bureau throughout the State and other offices of the Legal Aid Bureau, Inc.,
subject to the requirement that the Legal Aid Bureau, Inc. provide a matching
fund of a certain kind for the same purpose by a certain date; requiring the Mayor
and City Council of Baltimore to donate certain land to the Legal Aid Bureau,
Inc.; 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 Legal Aid
Bureau, Inc. Loan of 1990 in the total principal amount of $1,500,000 $900,000
5750,000. 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 Legal Aid Bureau, Inc. for the design,
construction, and equipping of a new facility in Baltimore City that will house the
coordinating unit for the services of the Legal Aid Bureau throughout the State and
other offices of the Legal Aid Bureau, Inc.

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

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