BLAIR LEE III, Acting Governor                           2433

wastewater treatment plant, subject to the requirement
that Mt. St. Mary's College provide at least an equal
and matching fund for this project; providing for the
disposition of funds not encumbered by a certain date;
providing that no proceeds of the loan or its matching
funds may be used for religious purposes; 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 Mt. St. Mary's
College Loan of 1978 in the aggregate principal amount of
$450,000. This loan shall be evidenced by the issuance and
sale of State general obligation bonds authorized by a
resolution of the Board of Public Works and issued, sold and
delivered in accordance with the provisions of §§ 19 to 23
of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume and 1977 Supplement, as amended from time
to time).

(2)    The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or may
be consolidated and sold as part of a single issue of bonds
under § 2B of Article 31 of the Code.

(3)    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
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
conversion of the old 1835 music hall to a library facility,
upgrading of the powerhouse and steam distribution system,
and construction of a new wastewater treatment plant.

(4)    There is hereby levied and imposed an annual
State tax 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 due and until paid in full, such
principal to be discharged within fifteen years of the date
of issue of the bonds.

(5)    Prior to the payment of any funds under the
provisions of this Act for the purposes set forth in Section
1(3) above, Mt. St. Mary's College shall provide at least an
equal and matching fund of $450,000 for this project. Mt.
St. Mary's College shall have until June 1, 1981 to present
evidence satisfactory to the Board of Public Works that this
fund will be provided. Upon receiving from the Board of
Public Works, on or before June 1, 1981, a certification of
suitable evidence, the Treasurer of the State shall expend