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Session Laws, 1982
Volume 742, Page 3595   View pdf image
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HARRY HUGHES, Governor

3595

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 Montgomery County
Pre-Release Center Loan of 1982 in the aggregate principal
amount of $200,000, 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: as a State
grant to assist in the design, planning, and construction of
an expansion to the Montgomery County Pre-Release Center.

(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)  Prior to the payment of any funds under the
provisions of this Act for the purposes set forth in Section
1(3) above, Montgomery County shall provide at least an
equal and matching fund of $200,000 for this project. No
part of the an applicant's matching fund may be provided ,
from State funds either directly or indirectly either
directly or indirectly from funds of the State, whether
appropriated or unappropriated. No part of the an fund may
consist of real property, or in kind contributions, or funds
expended prior to the effective date of this Act. 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 is final. Montgomery
County has until June 1, 1984 to present evidence

 

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Session Laws, 1982
Volume 742, Page 3595   View pdf image
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