HARRY HUGHES, Governor

3645

State funds to be used in the sarnie manner as general funds
for the design and construction of shore erosion control
projects by persons, municipalities, and counties pursuant
to §§ 8-1001 to 8-1007 of the Natural Resources Article.

(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.

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

Approved June 1, 1982.

CHAPTER 652

(House Bill 808)

AN ACT concerning

Creation of a State Debt - Public Junior, Community,
and Regional Community College Facilities

FOR the purpose of authorizing the creation of a State Debt
in the amount of $2,000,000, the proceeds to be used to
supplement the financing of the design and construction
of public junior, community, or and regional community
college buildings, site improvements, and facilities,
and to supplement the financing of acquisition of
certain property in connection with those buildings,
site improvements, and facilities by the counties,
including 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 General Public
Junior, Community, or and Regional Community College
Construction Loan of 1982 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 1981 Cumulative Supplement, as
amended from time to time).