2486

LAWS OF MARYLAND

Ch. 637

WHEREAS, The General Assembly is committed to the
continuation of the renovation, restoration, rehabilitation,
repair, alteration, and improvement of the Baltimore City
Zoo for at least the next 3 years; now, therefore,

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 Baltimore City Zoo
Loan of 1981 in the aggregate principal amount of $700,000.
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 1980 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 a grant
to Baltimore City the Mayor and City Council of Baltimore
for the renovation, rehabilitation, repair, alteration, and
improvement of the Baltimore City Zoo.

(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 purpose set forth in Section
1(3) above, Baltimore City or the Baltimore Zoological
Society shall provide at least an equal matching fund of
$700,000 for this project. Baltimore City or the Baltimore
Zoological Society shall have until June 1, 1983, to present
evidence satisfactory to the Board of Public Works, that this
fund will be provided. If satisfactory evidence of the
raising of at least an equal and matching fund for this
project is presented to the Board of Public Works on or
before June 1, 19883, the Board of Public Works shall so
certify to the Treasurer of the State and the proceeds of
the loan shall be expended in accordance with the provisions
of this Act. If satisfactory evidence of the raising of at