HARRY HUGHES, Governor                                      1371

(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 Baltimore County
Critical Flood Control Watershed Management Program Loan of
1979 in the aggregate principal amount of $11,000,000
$1,000,000. 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 1978 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 flood
control watershed management in the Gwynn's Falls, Patapsco
River, and Gunpowder watersheds, including:

(i) structural and nonstructural improvements;

(ii) flood—proofing;

(iii) evacuation of structures from the
floodplain;

(iv) storm drain and stream bank maintenance;

(v) necessary studies; and

(vi) property acquisition.

(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 proceeds under the
provisions of this Act for the purposes set forth in Section
1 (3) above, Baltimore County, Maryland shall provide
matching funds of up to $3,670,000 $1,000,000 for this
project, and shall have until June 1, 1981 to present
evidence satisfactory to the Board of Public Works that this
matching fund will be provided. Upon receiving from the
Board of Public Works a certification that this suitable