2624

LAWS OF MARYLAND

Ch. 896

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 2 1 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 to
assist in the construction and equipping of a Worcester
County jail facility.

(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, the County Commissioners of Worcester County
shall provide at least an equal and matching fund of
$1,750,000 for this project. The County Commissioners of
Worcester County shall have until June 1, 1980 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, 1980, a certification of
suitable evidence, the Treasurer of the State shall spend

the proceeds of the loan the proceeds of the loan__shall be

expended 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 Jure 1, 1980, the
proceeds of the loan shall be transferred to the Annuity
Bond Fund and applied to the debt service requirements of
the State.

(6) If any funds provided by this Act are not

encumbered within three years from the effective date of
this Act, then the funds shall be deemed to be abandoned.
If the total loan authorized by this Act has been issued
within three years from the effective date of this Act, then
the amount specified in this Act for the abandoned funds
shall be transferred to the Annuity Bond Fund and shall be

applied to the debt service requirements of the State. If,

however, the total loan authorized by this Act has not been
issued within three years from the effective date of this
Act, then the total issuable bonds authorized by this Act

shall be reduced by the amount specified in this Act for

abandoned funds. For the purposes of this Act, funds are

encumbered when a project is approved for a grant under this
program for a specific amount by actions of the Board of
Public Works.