HARRY HUGHES, Governor                               3343

Sincerely,
Harry Hughes
Governor

Senate Bill No. 280

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 $1,500,000 $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 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
or 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
$1,500,000 $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