HARRY HUGHES, Governor                                2593

(House Bill 461)

AN ACT concerning

Creation of a State Debt - The Weinberg Center

FOR the purpose of authorizing the creation of a State Debt
in the amount of $200,000 $125,000, the proceeds to be
used to assist in the construction, renovation,
rehabilitation, improving, and equipping of the
Weinberg Center in Frederick County, subject to the
provision by the Weinberg Center of certain matching
funds for the same purpose; 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 Weinberg Center Loan
of 1980 in the aggregate principal amount of $200,000
$125,000. 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 1979 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: to assist in
the construction, renovation, rehabilitation, improving, and
equipping of the Weinberg Center in Frederick County,
Maryland.

(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 Weinberg Center shall provide a matching