MARVIN MANDEL, Governor
3313
of Enoch Pratt Library
FOR the purpose of authorizing the creation of a State
debt in the aggregate amount of Three Hundred
Thousand Dollars, ($300,000), to be known as the
"Peabody Library Loan of 1975", the proceeds thereof
to be used for the purpose of aiding in the design
and construction of a climatic and humidity control
system for the George Peabody Branch of the Enoch
Pratt Free Library, including the payment of
architects' and engineers' fees; and further to aid
in the purchase and installation of climatic and
humidity control equipment for the George Peabody
Branch of the Enoch Pratt Free Library; and further
to provide for the repair and rehabilitation of
books, maps, documents and other materials contained
in the collection of the Peabody Department of the
Enoch Pratt Central Library; subject to the
requirement that the Board of Trustees of the Enoch
Pratt Free Library and the Committee for the Peabody
Department on or before June 1, 1977, shall have
obtained from other public or private sources at
least an equal and matching sum for the same
purposes; and providing generally for the issue and
sale of bonds evidencing such loan.
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 "Peabody Library Loan of 1975" in the
aggregate amount of Three Hundred Thousand Dollars
($300,000).
The certificates of indebtedness (hereinafter called
"bonds") 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
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