HARRY HUGHES, Governor                                      1875

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.

Approved May 21, 1985.

CHAPTER 184

(Senate Bill 363)

AN ACT concerning

Creation of a State Debt - Calvert Marine Museum

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,000,000 $750,000 $500,000, the proceeds to
be used as a grant to the Board of County Commissioners of
Calvert County for the purpose of the rehabilitation,
renovation, construction, reconstruction, improvement, and
development of the Calvert Marine Museum located in Calvert
County, subject to the requirement that the Board of County
Commissioners of Calvert County provide at least an equal
and matching fund of a certain kind 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 Calvert Marine Museum Loan of 1985 in the
aggregate principal amount of $1,000,000 $750,000 $500,000. 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 and 1984 Supplement, 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