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3114 LAWS OF MARYLAND Ch. 614
OF THE CONTRACT DUE TO NONCOMPLIANCE, THE CONTRACT HOLDER owes a
revised tax bill computed on any annual increase, payable at the
tax rates applicable for the particular year. AN ADDITIONAL
PENALTY WILL BE PAID TO THE DEPARTMENT IN THE AMOUNT OF $100 FOR
EACH AGREEMENT TERMINATED AS A RESULT OF NONCOMPLIANCE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.
Approved May 29, 1984.
CHAPTER 615
(House Bill 404)
AN ACT concerning
Creation of a State Debt - Western Maryland Conference
Center
FOR the purpose of authorizing the creation of a State Debt in
the amount of $10,000,000 $250,000, the proceeds to be used
for the planning, design, and construction site preparation
of a conference facility on a State property site currently
being considered by the Western Maryland Enterprise Study
Committee; establishing certain conditions to be met prior
to the payment of funds under this Act; providing for the
termination of this debt authorization under certain
circumstances; and providing generally for the issue and
sale of bonds evidencing the loan.
Preamble
The General Assembly recognizes the need to construct a
conference center in Western Maryland as a means of improving the
economic vitality of this region of the State and attracting
tourism dollars to the State; now, therefore,
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 Western Maryland Conference Center Loan
of 1984 in the aggregate principal amount of $10,000,000
$250,000. 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).
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