HARRY HUGHES, Governor 3465
FOR the purpose of authorizing the creation of a State Debt
in the amount of $2,000,000, the proceeds to be used to
assist in the design, planning, construction,
renovation, and equipping of a regional oncology
treatment unit at Peninsula General Hospital Medical
Center, Salisbury, Maryland, subject to the provision
of up to a certain amount as a matching fund for the
same purpose; 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 Maryland Eastern
Shore Oncology Treatment Unit Loan of 1981 in the aggregate
principal amount of $2,000,000. 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 architects1 and engineers' fees: to assist in
the design, planning, construction, and equipping of a
regional oncology treatment unit at Peninsula General
Hospital Medical Center, Salisbury, Maryland.
(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) The payment of any funds under the provisions of
this Act for the purpose set forth in Section 1(3), above,
shall be contingent upon the provision by Peninsula General
Hospital Medical Center of a sum up to $2,0000,000 as a
matching fund for this project. Peninsula General Hospital
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