3198                                             LAWS OF MARYLAND                                         Ch. 653

Creation of a State Debt - The Maryland Hall
for the Creative Arts, Inc.

FOR the purpose of authorizing the creation of a State Debt in
the amount of $100,000, the proceeds to be used as a grant
to The Maryland Hall for the Creative Arts, Inc. for the
purpose of the renovation and repair of The Maryland Hall
for the Creative Arts, Inc., subject to the requirement that
The Maryland Hall for the Creative Arts, Inc. provide at
least an equal and matching fund for the same purpose 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 Maryland Hall for the Creative Arts, Inc.
Loan of 1984 in the aggregate principal amount of $100,000. 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
Maryland Hall for the Creative Arts, Inc. for the purpose of the
renovation and repair of The Maryland Hall for the Creative Arts,
Inc.

(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.

(5)  Prior to the payment of any funds under the provisions
of this Act for the purposes set forth in Section 1(3) above, The
Maryland Hall for the Creative Arts, Inc. shall provide at least