HARRY HUGHES, Governor

2773

Comprehensive Flood Management Grant Program

FOR the purpose of amending the State Debt authorized for
the Comprehensive Flood Management Grant Program to
allow proceeds for watershed studies in addition to
capital projects; clarifying language; and making this
Act contingent on the passage of other legislation.

BY repealing and reenacting, with amendments,

Chapter 772 of the Acts of the General Assembly of 1980

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That chapter(s) of the Acts of the General

Assembly be repealed, amended, or enacted to read as
follows:

Chapter 772 of the Acts of 1980

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 Comprehensive Flood
Management Loan of 1980 in the aggregate principal amount of
$7,500,000. This loan shall be [evidence] 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 provide a
fund to the Department of Natural Resources, so that it may
make grants [, requiring matching funds of a minimum of 50
percent,] pursuant to the provisions of [of] the Natural
Resources Article of the Annotated Code of Maryland, as
amended from time to time, [to subdivisions of this State
for flood control and watershed management capital projects]
FOR (1) FINANCING AN AMOUNT UP TO 50 PERCENT OF THE COST OF
WATERSHED STUDIES APPROVED OR CONDUCTED BY THE DEPARTMENT
RELATING TO FLOOD MANAGEMENT AND (2) FLOOD CONTROL AND