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1485
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HARRY HUGHES, Governor
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(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) The payment of any funds under the provisions of this
Act for the purpose set forth in Section 1(3) above, shall be
contingent upon the provision by Goucher College of a sum up to
$1,003,500 as a matching fund for this project. No part of the
applicant's matching fund may be provided from State funds either
directly or indirectly. No part of the applicant's matching fund
may consist of real property or in-kind contributions. In case
of any dispute as to what money or assets may qualify as the
applicant's matching fund, the Board of Public Works shall
determine the matter and the Board's decision shall be final.
Goucher College shall have until June 1,1985, to present evidence
satisfactory to the Board of Public Works of the sum that it has
raised as a matching fund for this purpose. Upon a certification
of suitable evidence from the Board of Public Works on or before
June 1, 1985, the proceeds of the loan shall be expended in
accordance with the provisions of this Act. To the extent that
satisfactory evidence of the raising of a sum up to $1,003,500 as
a matching fund for this project is not presented to the Board of
Public Works on or before June 1, 1985, no funds under the
provisions of this Act shall thereafter be paid over to or
expended for the purposes set forth in Section 1(3), above, and
the remaining proceeds of the loan shall be applied to the
purposes authorized in Article 78A, § 3 of the Code.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1983.
Approved May 24, 1983.
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CHAPTER 486
(House Bill 1329)
AN ACT concerning
Consignments - Works of Fine Art
FOR the purpose of providing that, if an art dealer accepts a
work of fine art on consignment from an artist under certain
circumstances, the art dealer is the agent bailee of the
artist; providing that a work of fine art and proceeds from
the work of fine art are trust bailment property; providing
for payment of the trust bailment funds to the artist under
certain circumstances; providing that a work of fine art is
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