1606                                         LAWS OF MARYLAND                        [Ch. 395

WHEREAS, Provident Hospital, Inc. [[has agreed to]]
will undertake in good faith a community fund raising
effort toward which funds have heretofore been
contributed; and

WHEREAS, Supplemental financial aid will greatly
enhance the chances of its continued existence and
complement other efforts undertaken by the public and
private sectors to guarantee its functioning; and

WHEREAS, Provident Hospital, Inc. is a community
based institution that has provided much needed medical
care and services to the citizens of Baltimore; and

WHEREAS, The existence of the hospital as a vital
provider of quality health care is a concern of the
general public and should be assured; [[now therefore]]
and

WHEREAS, The creation of the State debt and the use
of the proceeds thereof in the wanner hereinafter
provided will serve a valid public purpose; now,
therefore

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Board of Public Works is hereby
authorized and empowered to issue a State loan to be
known as the "Provident Hospital Loan of 1971," in the
aggregate amount of One Million Dollars ($1,000,000).

The certificates of indebtedness (hereinafter called
"bonds1*) evidencing said loan may be issued all at one
time or, in groups, from time to time, as hereinafter
provided. All of said bonds evidencing said loan, or any
group thereof, shall be issued according to a serial
maturity plan to be established in the resolution
authorizing the issuance of said loan or any portion
thereof, which plan need not be in equal par amounts or
in consecutive annual installments but shall be so worked
out as to discharge the principal. represented by said
bonds within fifteen (15) years from the date of issue.
It shall not be necessary to provide for the payment of
any part of the principal represented by any of said
bonds for the first two (2) years from the date of
issuance.

The Board of Public Works is hereby authorized and
empowered to pass a resolution or resolutions, from time
to time, determining and setting forth:

(a) The proportion of the total loan
authorized by this Act which shall be issued at any