HARRY HUGHES, Governor                                         2275

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 make loans to
political subdivisions under the Maryland Industrial Land Act, §§
438 through 446 of Article 41 of the Annotated Code of Maryland
(1982 Replacement Volume and 1983 Supplement, as amended from
time to time).

(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.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1984.

Approved May 15, 1984.

CHAPTER 333

(Senate Bill 342)

AN ACT concerning

Creation of a State Debt - Public Junior,
Community, and Regional Community College Facilities

FOR the purpose of authorizing the creation of a State Debt in
the amount of $3,000,000, the proceeds to be used to assist
the counties and Baltimore City in financing the design and
construction of public junior, community, and regional
community college buildings, site improvements, and
facilities, and in financing the acquisition of property
real property or interests in land required in connection
with those buildings, site improvements, and facilities
under certain circumstances; 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 Public Junior, Community, and Regional
Community College Construction Loan of 1984 in the aggregate
principal amount of $3,000,000. 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