2706                                            LAWS OF MARYLAND                                     Ch. 923

CHAPTER 923

(House Bill 1207)

AN ACT concerning

Creation of a State Debt — Montgomery County

Detention Center

MC 310-78

FOR the purpose of authorizing the creation of a State Debt
in the amount of 1265,000, the proceeds to be used for
the purpose of providing a State grant to assist in the
construction and equipping of a gymnasium for the
Montgomery County Detention Center, subject to the
requirement that Montgomery County shall provide at
least an equal and matching sum for the same purpose;
providing for the disposition of funds unencumbered by

a certain date; 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 Montgomery County
Detention Center Loan of 1978 in the aggregate principal
amount of $265,000. 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
purpose of providing a State grant to assist in the
construction and equipping of a gymnasium for the Montgomery
County Detention Center.

(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