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Ch. 467
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LAWS OF MARYLAND
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1440
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PG 401-83
FOR the purpose of authorizing the creation of a State Debt in
the amount of $675,000 $250,000, the proceeds to be used as
a grant to assist the Maryland-National Capital Park and
Planning Commission in for the improvement, restoration,
rehabilitation, and reconstruction of the Calvert Mansion in
Riverdale, Maryland, subject to the requirement that the
Maryland-National Capital Park and Planning Commission
provide at least an equal and matching fund of a certain
kind for the same purpose by a certain date; providing that
certain easements be granted to the Maryland Historical
Trust; 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 Calvert Mansion Loan of 1983 in the
aggregate principal amount of $675,000 $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 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
Maryland-National Capital Park and Planning Commission for the
improvement, restoration, rehabilitation, and reconstruction of
the Calvert Mansion in Riverdale, Maryland.
(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
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