HARRY HUGHES, Governor                               2825

Approved May 19, 1981.

CHAPTER 759

(House Bill 729)

AN ACT concerning

Creation of a State Debt - Western Maryland College

FOR the purpose of authorizing the creation of a State Debt
in the amount of $1,250,000, the proceeds to be used as
a grant to Western Maryland College to assist in the
design, planning, construction, and equipping of a
physical education teaching facility, including
laboratories and classrooms, at the college, subject to
the condition that Western Maryland College provide up
to a certain amount of a certain type of funds as a
matching fund for the same purpose by a certain date,
and subject to the provision that no portion of the
proceeds of the loan nor any of the matching funds may
be used for religious purposes; 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 Western Maryland
College Loan of 1981 in the aggregate principal amount of
$1,250,000. 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: as a grant
to Western Maryland College to assist in the design,
planning, construction, and equipping of a physical