HARRY HUGHES, Governor

2301

satisfactory evidence is presented, the Board shall certify this
fact to the State Treasurer and the proceeds of the loan shall be
expended for the purposes provided in this Act. If this evidence
is not presented by June 1, 1986, the proceeds of the loan shall
be applied to the purposes authorized in Article 78A, § 3 of the
Code. Furthermore, the Mayor and City Council of Baltimore shall
grant and convey a perpetual preservation easement on the
exterior and interior of the structures, where appropriate, and
on the land to the Maryland Historical Trust, in form and
substance acceptable to the Trust.

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

Approved May 15, 1984.

CHAPTER 350

(Senate Bill 518)

AN ACT concerning

Creation of a State Debt - Museum of Art Loan of 1984

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,600,000, the proceeds to be used as a grant
to the Mayor and City Council of Baltimore for the purpose
of renovating, equipping, improving, expanding and
constructing the Baltimore Museum of Art, subject to the
condition that the Mayor and City Council of Baltimore
provide a matching fund of a certain type and amount 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 Museum of Art Loan of 1984 in the
aggregate principal amount of $1,600,000. 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 (1983
Replacement Volume, 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