2478

LAWS OF MARYLAND

Ch. 469

loan to be known as the Cecil County Senior Citizen Center Loan
of 1985 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 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
Board of County Commissioners of Cecil County for the purpose of
the planning, design, renovation, rehabilitation, reconstruction,
equipping, and conversion of the Cecil County Jail building to be
used as a Senior Citizen Center in Cecil 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
Board of County Commissioners of Cecil County shall provide at
least an equal and matching fund of $100,000. 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 in kind
contributions or funds expended prior to the effective date of
this Act. The fund may consist of real property. 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 Board of County Commissioners of
Cecil County 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.