Ch. 258 LAWS OF MARYLAND
Approved May 2, 1990.

CHAPTER 258
(Senate Bill 279)

AN ACT concerning

Creation of a State Debt - Mid-Shore Center for the Performing Arts, Inc. - Avalon

Theatre

FOR the purpose of authorizing the creation of a State Debt in the amount of $1-50,000
$85,000 the proceeds to be used as a grant to the Mid-Shore Center for the
Performing Arts, Inc. for the purpose of restoring and renovating the historic
Avalon Theatre in Easton, located in Talbot County, subject to the requirement
that the Mid-Shore Center for the Performing Arts, Inc. 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 Historie 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 Mid-Shore
Center for the Performing Arts, Inc. - Avalon Theatre Loan of 1990 in the total
principal amount of $150,000 $85,000. 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 Mid-Shore Center for the Performing Arts, Inc.
for the purpose of restoring and renovating the historic Avalon Theatre in Easton,
located in Talbot County.

(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

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