HARRY HUGHES, Governor

2289

CHAPTER 376

(House Bill 873)

AN ACT concerning

Creation of a State Debt - Suburban Hospital
MC 540-85

FOR the purpose of authorizing the creation of a State Debt in
the amount of $750,000 $500,000 $250,000, the proceeds to be
used as a grant to the Suburban Hospital Association for the
purpose of the reconstruction, renovation, rehabilitation,
improvement, and expansion of the Shock Trauma Center and
the Emergency Department of Suburban Hospital, subject to
the requirement that the Suburban Hospital Association
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 Suburban Hospital Loan of 1985 in the
aggregate principal amount of $750,000 $500,000 $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 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
applicable architects' and engineers' fees: as a grant to the
Suburban Hospital Association for the purpose of the
reconstruction, renovation, rehabilitation, improvement, and
expansion of the Shock Trauma Center and the Emergency Department
of Suburban Hospital.