3446

VETOES

evidence satisfactory to the Board of Public Works that this
fund will be provided. Upon receiving from the Board of
Public Works on or before June 1, [1980] 1983, a
certification of suitable evidence, the proceeds of the loan
shall be expended in accordance with the provisions of this
Act. If satisfactory evidence of the raising of at least an
equal and matching fund for this project is not presented to
the Board of Public Works on or before June 1, [1980] 1983,
the proceeds of the loan shall be [transferred to the
Annuity Bond Fund and applied to the debt service
requirements of the State] DISPOSED OF IN ACCORDANCE WITH
THE PROVISIONS IN ARTICLE 78A, SECTION 3 OF THE ANNOTATED
CODE OF MARYLAND (1976 REPLACEMENT VOLUME AND 1977 1980
REPLACEMENT VOLUME SUPPLEMENT, AS AMENDED FROM TIME TO TIME).

(6) If any funds provided by this Act are not

encumbered within [three] TWO years from the effective date

of this Act, the funds shall be deemed abandoned. If the

total loan authorized by this Act has been issued within
[three] TWO years from the effective date of this Act, the
amount specified in this Act for the abandoned fund shall be
[transferred to the Annuity Bond Fund and applied to the

debt service requirements of the State. If, however, the

total loan authorized by this Act has not been issued within
three years from the effective date of this Act, the total
issuable bonds authorized by this Act shall be reduced by
the amount specified in this Act for abandoned funds]
DISPOSED OF IN ACCORDANCE WITH ARTICLE 78A, SECTION 3 OF THE
ANNOTATED CODE OF MARYLAND (1976 REPLACEMENT VOLUME AND 1977
SUPPLEMENT, AS AMENDED FROM TIME TO TIME). For the purposes
of this Act, funds are encumbered when a project is approved
for a grant under this program for a specific amount, by
action of the Board of Public Works.

(7) NO PART OF THE APPLICANT'S MATCHING FUND MAY
CONSIST OF REAL PROPERTY, OR IN KIND CONTRIBUTIONS, OR FUNDS
EXPENDED PRIOR TO THE DATE AT WHICH THE REQUESTED STATE
GRANT IS APPROVED BY THE BOARD OF PUBLIC WORKS. IN CASE OF
ANY DISPUTE AS TO WHAT MONEY OR ASSETS MAY QUALIFY AS
MATCHING FUNDS, THE BOARD OF PUBLIC WORKS SHALL DETERMINE
THE MATTER, AND THE BOARD'S DECISION SHALL BE FINAL.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1981.

May 19, 1981
The Honorable James Clark, Jr.
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President: