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Ch. 42 7
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LAWS OF MARYLAND
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1344
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CHAPTER 427
(House Bill 534)
AN ACT concerning
Creation of a State Debt - Church Hospital
FOR the purpose of authorizing the creation of a State Debt in
the amount of $300,000 $200,000, the proceeds to be used as
a grant to Church Hospital Corporation for the purpose of
construction of a 4 story building, and renovation and
rehabilitation of the existing buildings in the Church
Hospital complex subject to the requirement that Church
Hospital Corporation provide at least an equal and matching
fund of a certain type for the same purpose by a certain
date; providing that no proceeds of the loan or any of the
matching funds may be used for religious purposes; 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 Church Hospital Loan of 1983 in the
aggregate principal amount of $300,000 $200,000. 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 Church
Hospital Corporation for the purpose of construction of a 4 story
building, and renovation and rehabilitation of the existing
buildings in the Church Hospital complex.
(4) There is hereby levied and imposed an annual State tax
on all assessable property in the State in rate and amount
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