5190

VETOES

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 Hagerstown Municipal
Stadium Loan of 1982 in the aggregate principal amount of
$250,000. 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 as a
grant to the Mayor and City Council of Hagerstown for the
planning, renovation, and improvement of the Hagerstown
Memorial Stadium, and for the planning and construction of a
grandstand in the Hagerstown Memorial Stadium.

(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 Mayor and City Council of Hagerstown shall
provide at least an equal and matching fund of $250,000 for
this project. No part of the applicant's matching fund may
be provided from State funds, either directly or indirectly,
from funds of the State, whether appropriated or
unappropriated. No part of the fund may consist of real
property, ear 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 Mayor and City Council
of Hagerstown have until June 1, 1984 to present evidence