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3264
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Ch. 826
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LAWS OF MARYLAND
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may be consolidated and sold as part of a single issue of
bonds under § 2B of Article 31 of the Code.
(2) The actual cash proceeds of the sale of the
bonds shall be paid to the Treasurer and shall be first
applied to the payment of the expenses of issuing and
delivering the bonds unless funds for this purpose are
otherwise provided in the annual budget bill and
thereafter shall be credited on the books of the State
Comptroller and expended, upon approval by the Board of
Public Works, for the following public purposes,
including any applicable architects' and engineers' fees:
for the renovation and improvement of an academic
building at the College of Notre Dame of Maryland.
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(3) The payment of any funds under the provisions
of this Act for the purpose of renovating and improving
an academic building at the College of Notre Dame of
Maryland shall be contingent upon the provision by the
College of Notre Dame of Maryland of at least an equal
and matching fund for this project from private and other
public sources. The College of Notre Dame of Maryland
shall have until June 1, 1979, to present evidence
satisfactory to the Board of Public Works that it has
raised at least this equal and matching fund for the
at the College of Notre Dame of Maryland. Upon receiving
from the Board of Public Works a certification of such
suitable evidence on or before June 1, 1979, the
Treasurer of the State is hereby authorized, empowered
and directed to proceed to spend the proceeds of said
loan in accordance with the other provisions of this Act.
If such satisfactory evidence of the raising of at least
an equal and matching fund for this project is not
presented to the Board of Public Works on or before June
renovating and improving an academic building at the
College of Notre Dame of Maryland, and the debt
authorization provided herein shall be cancelled by the
Comptroller of the Treasury.
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(3) Prior to the payment of any funds under the
provisions of this Act for the purposes set forth in
Section 1.(2) above, the College of Notre Dame of
Maryland shall provide at least an equal and matching
fund of $342,860 for this project. The College of Notre
Dame of Maryland shall have until June l, 1979 to present
evidence satisfactory to the Board of Public Works that
the fund will be provided. Upon receiving from the Board
of Public Works on or before June 1, 1979 a certification
of suitable evidence, the Treasurer of the State shall
spend the proceeds of the loan in accordance with the
provisions of this Act. If satisfactory evidence of the
raising of at least an equal and matching fund for this
project is not presented to the Board of Public works on
or before June 1, 1979, the proceeds of the loan shall be
transferred to the Annuity Bond Fund and applied to the
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