HARRY HUGHES, Governor

2325

(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 Carroll County Association for Retarded
Citizens, Inc., Loan of 1985 in the aggregate principal amount of
$500,000 $450,000. 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
Carroll County Association for Retarded Citizens, Inc., for the
purpose of the planning, design, construction, and equipping of a
new sheltered workshop program facility for handicapped persons
in Carroll County.

(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
Carroll County Association for Retarded Citizens, Inc., shall
provide at least an equal and matching fund of $500,000 $450,000.
No part of an applicant's matching fund may be provided, either
directly or indirectly, from funds of the State, whether
appropriated or unappropriated. No part of the fund may consist
of real property, in kind contributions, or funds expended prior
to the effective date of this Act. In case of any dispute as to
what money or assets may qualify as matching funds, the Board of
Public Works shall determine the matter, and the Board's decision
is final. The Carroll County Association for Retarded Citizens,
Inc., has until June 1, 1987, to present evidence satisfactory to
the Board of Public Works that the matching fund will be
provided. If satisfactory evidence is presented, the Board shall
certify this fact to the State Treasurer and the proceeds of the
loan shall be expended for the purposes provided in this Act. If
this evidence is not presented by June 1, 1987, the proceeds of
the loan shall be applied to the purposes authorized in Article
78A, § 3 of the Code.