3306                                  LAWS OF MARYLAND                                Ch. 528

PARAGRAPH CONFORM TO THE REQUIREMENTS OF APPLICABLE FEDERAL
LAW.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved June 1, 1982.

CHAPTER 529

(Senate Bill 495)

AN ACT concerning

Creation of a State Debt -
Civic Center

FOR the purpose of authorizing the creation of a State Debt
in the amount of 750,000 $325,000, the proceeds to be
used for a grant to the Mayor and City Council of
Baltimore for renovation and improvement of the Civic
Center in Baltimore City; 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 Civic Center Loan of
1982 in the aggregate principal amount of $750,000 $325,000.
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 1981 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: for a grant