HARRY HUGHES, Governor 4743
A SPECIAL TAXING DISTRICT GOVERNMENTAL ENTITY MAY
EXPEND REVENUES FOR THE PURPOSES SET FORTH IN THIS ARTICLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.
Approved June 1, 1982.
CHAPTER 866
(House Bill 909)
AN ACT concerning
Creation of a State Debt - Easter Seal Camp
Fairlee Manor
FOR the purpose of authorizing the creation of a State Debt
in the amount of $500,000, the proceeds to be used as a
grant to Easter Seal Society of Del-Mar for the repair,
improvement, renovation, expansion, and equipping of
the Easter Seal Camp Fairlee Manor, Chestertown,
Maryland; 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 Easter Seal Camp
Fairlee Manor Loan of 1982 in the aggregate principal amount
of $500,000. 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
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