BLAIR LEE III, Acting Governor

2641

for every $1 provided

by the State. The Benedictine School for Exceptional

Children, Inc., shall have until June 1, 1980 to present
evidence satisfactory to the board of Public Works of the
sum that it has raised. 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 in accordance with the provisions

of this Act. If satisfactory evidence of the raising of the

matching fund for this project is not presented to the Board
of Public Works on or before June 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.

(4) The payment of any funds under the provisions of

this Act for the construction and equipping of a

gymnasium/auditorium complex, library/classroom facility,
and/or swimming pool facility at the Benedictine School for
Exceptional Children, Inc., located in Ridgely, Maryland,

shall be contingent upon the provision by the Benedictine

School for Exceptional Children, Inc., of a sum up to

$1,200,000 as a matching fund for this project from private

and other public sources. The Benedictine School for

Exceptional Children, Inc., shall have until June 1, 1980 to
present evidence satisfactory to the Board of Public Works
of the sum that it has raised as a matching fund for the
construction and equipping of a gymnasium/auditorium
complex, library/classroom facility, and/or swimming pool
facility at the Benedictine School for Exceptional Children,

Inc. Upon receiving from the Board of Public Works a

certification of such suitable evidence on or before June 1,
1980, the proceeds of the loan, or any portion thereof equal
to one-half of the sum raised by the Benedictine School for
Exceptional Children, Inc., shall be expended in accordance
with the provisions of this Act. To the extent that

satisfactory evidence of the raising of a sum up to

$1,200,000 as a matching fund of this project is not

presented to the Board of Public Works on or before June 1,
1980, no funds under the provisions of this Act shall
thereafter be paid over to or expended for the construction

and equipping of a gymnasium/auditorium complex,

library/classroom facility, and/or swimming pool facility at

the Benedictine School for Exceptional Children, Inc., and

the remaining proceeds of the loan shall be transferred to

the Annuity Bond Fund and applied to the debt service

requirements of the State.

(5) 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

School for Exceptional Children, Inc.