HARRY HUGHES, Governor

2509

CHAPTER 444

(House Bill 801)

AN ACT concerning

Creation of a State Debt - University of Maryland - College
of Engineering Instructional Television System

FOR the purpose of authorizing the creation of a State Debt in
the amount of $570,000, the proceeds to be used as a grant
to the University of Maryland Board of Regents for the
purpose of designing and constructing a microwave tower and
purchasing capital equipment to provide College of
Engineering instructional television services to the
Hagerstown area; requiring the University of Maryland Board
of Regents to obtain certain approval by a certain date; 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 University of Maryland, College of
Engineering Instructional Television Loan of 1984 in the
aggregate principal amount of $570,000. 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
Works, for the following public purposes, including any
applicable architects' and engineers' fees: as a grant to the
University of Maryland Board of Regents for the purpose of
designing and constructing a microwave tower and purchasing
capital equipment to provide College of Engineering instructional
television services to the Hagerstown area.

(4)  There is hereby levied and imposed an annual State tax
on all assessable property in the State in rate and amount