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1964
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Ch. 604
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LAWS OF MARYLAND
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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: to provide moneys to
the Maryland Housing Rehabilitation Program described in § 257L
of Article 41 of the Annotated Code of Maryland, as amended from
time to time, to be used in accordance with § 257L.
(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.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1983.
Approved May 31, 1983.
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CHAPTER 605
(House Bill 354)
AN ACT concerning
Creation of a State Debt - Industrial Project
Insurance Loan of 1983
FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,000,000, the proceeds to be used to provide
moneys to the Industrial Project Insurance Fund to be used
by the Maryland Industrial Development Financing Authority
for carrying out the provisions of the Maryland Industrial
Development Financing Authority Act; 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 Industrial Project Insurance Loan of 1983
in the aggregate principal amount of $1,000,000. 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 1982 Supplement, as amended from time to
time).
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