HARRY HUGHES, Governor

3467

AN ACT concerning

Creation of a State Debt - Baltimore City Zoo

FOR the purpose of authorizing the creation of a State Debt
in the amount of $700,000, the proceeds to be used for
a grant to Baltimore City the Mayor and City Council of
Baltimore for the renovation, restoration,
rehabilitation, repair, alteration, and improvement of
the Baltimore City Zoo, subject to the condition that
Baltimore City the Mayor and City Council of Baltimore
or the Baltimore Zoological Society provide at least
the same amount as a matching fund an equal and
matching fund of a certain kind for the same purpose by
a certain date; and providing generally for the issue
and sale of bonds evidencing the loan.

Preamble

WHEREAS, The General Assembly recognizes the
contributions of the Baltimore City Zoo to the citizens of
the State of Maryland; and

WHEREAS, The General Assembly is committed to the
continuation of the renovation, restoration, rehabilitation,
repair, alteration, and improvement of the Baltimore City
Zoo for at least the next 3 years; now, therefore,

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 Baltimore City Zoo
Loan of 1981 in the aggregate principal amount of $700,000.
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