3694

LAWS OF MARYLAND

Ch. 679

Creation of a State Debt - St. Mary's County Jail

FOR the purpose of authorizing the creation of a State Debt
in the amount of $100,000, the proceeds to be used to
assist in the construction, renovation, rehabilitation,
and equipping equipment of the St. Mary's County Jail,
subject to the requirement that the Board of County
Commissioners of St. Mary's County provide at least an
equal and matching fund of a certain type for the same
purpose by a certain date; 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 St. Mary's County
Jail Loan of 1982 in the aggregate principal amount of
$100,000. 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: to assist in
the construction, renovation, rehabilitation, and equipping
equipment of the St. Mary's County Jail.

(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, the Board of County Commissioners of St. Mary's
County shall provide at least an equal and matching fund of
$100,000. No part of an applicant's matching fund may be