HARRY HUGHES, Governor

5375

Sincerely,
Harry Hughes
Governor

House Bill No. 1829

AN ACT concerning

Creation of a State Debt -
Frederick County Jail Loan of 1982

FOR the purpose of authorizing the creation of a State Debt
in the amount of $2,000,000, the proceeds to be used as
a grant to Frederick County to assist in the
construction of the Frederick County Jail, including
the acquisition and installation of furnishings and
equipment, subject to the requirement that Frederick
County provide at least an equal and matching fund of a
certain kind for the same purpose; 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 Frederick County
Jail 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 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