WILLIAM DONALD SCHAEFER, Governor Ch. 693
(II) THE BOARD SHALL STATE IN THE ORDER GRANTING
THE ISSUANCE OF THE LICENSE THE REASONS FOR ITS DECISION TO
EXCEED THE POPULATION RATIO QUOTA.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.
Approved May 29, 1990.
CHAPTER 693
(House Bill 1424)
AN ACT concerning
Creation of a State Debt - Baltimore Urban League
FOR the purpose of authorizing the creation of a State Debt in the amount of
$1,500,000 $750,000 the proceeds to be used as a grant to the Baltimore Urban
League for the acquisition, rehabilitation, and reconstruction of the historic
Orchard Street Church in Baltimore City to be used as the Baltimore Urban
League's new headquarters, subject to the requirement that the Baltimore Urban
League 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; prohibiting the proceeds of the loan to be used for
sectarian 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 Baltimore
Urban League Loan of 1990 in the total principal amount of $1,500,000 $750,000. 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 Urban League for the acquisition,
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