2472                                         LAWS OF MARYLAND                                    Ch. 424

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

Approved May 15, 1984.

CHAPTER 425

(House Bill 570)

AN ACT concerning

Creation of a State Debt - The Babe Ruth
Birthplace Foundation, Inc.

FOR the purpose of authorizing the creation of a State Debt in
the amount of $100,000 $40,000, the proceeds to be used as a
grant to The Babe Ruth Birthplace Foundation, Inc., for the
purpose of the upgrading of exhibits, planning, improvement,
renovation, expansion, and reconstruction of the Babe Ruth
Birthplace - Maryland Baseball Hall of Fame and Museum,
subject to the requirement that the Babe Ruth Birthplace
Foundation, Inc., 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 Babe Ruth Birthplace Foundation Loan of
1984 in the aggregate principal amount of $100,000 $40,000. 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
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