3666

LAWS OF MARYLAND

Ch. 663

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
to the Maryland Academy of Sciences for alteration,
expansion, improvement, and renovation of the Maryland
Science Center in Baltimore City.

(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 and for the purposes set forth in
Section 1(3) above, the Maryland Academy of Sciences shall
provide at least an equal and matching fund of $750,000
$500,000. No part of an applicant's matching fund may be
provided, either directly or indirectly, from funds of the
State, whether appropriated or unappropriated. No part of
the fund may consist of real property, 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. The Maryland Academy of Sciences has until June
1, 1984, to present evidence satisfactory to the Board of
Public Works that the matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify
this fact to the State Treasurer and the proceeds of the
loan shall be expended for the purposes provided in this
Act. If this evidence is not presented by June 1, 1984 the
proceeds of the loan shall be applied to the purposes
authorized in Article 78A, § 3 of the Code.

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