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1083
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HARRY HUGHES, Governor
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CHAPTER 315
(Senate Bill 214)
AN ACT concerning
Creation of a State Debt - John F. Kennedy Institute
for Handicapped Children
FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,300,000, the proceeds to be used as a grant
to the John F. Kennedy Institute for Handicapped Children
for the purpose of renovation, construction, expansion, and
modernization of the John F. Kennedy Institute for
Handicapped Children; subject to the requirement that the
John F. Kennedy Institute for Handicapped Children provide
at least an equal and matching fund of a certain kind 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 John F. Kennedy Institute for Handicapped
Children Loan of 1983 in the aggregate principal amount of
$1,300,000. 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 1982
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 a grant to the
John F. Kennedy Institute for Handicapped Children for the
purpose of renovation, construction, expansion, and modernization
of the John F. Kennedy Institute for Handicapped Children.
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