WILLIAM DONALD SCHAEFER, Governor Ch. 260

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

Approved May 2, 1990.

CHAPTER 260
(Senate Bill 292)

AN ACT concerning

Creation of a State Debt - Chesapeake Foundation for Human Development, Inc.

FOR the purpose of authorizing the creation of a State Debt in the amount of $150,000
the proceeds to be used as a grant to the Chesapeake Foundation for Human
Development, Inc. for capital improvements to and enlargement of the Patapsco
Avenue facility in the City of Baltimore; requiring, subject to the requirement that
the Chesapeake Foundation for Human Development, 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 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 Chesapeake
Foundation for Human Development, Inc. Loan of 1990 in the total principal amount of
$150,000. 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 Chesapeake Foundation for Human Development,
Inc. for capital improvements to and enlargement of the Patapsco Avenue facility in the
City of Baltimore.

(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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