2954

LAWS OF MARYLAND

Ch. 621

(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 Western
Maryland Station Center, Inc. for the purpose of the
preservation, improvement, restoration, and development of the
Western Maryland Station Center, in Allegany County and the
planning, design, construction, and development of a scenic
railroad line in Allegany 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)  The amount of allocation and use of State funds under
this Act shall be governed by and subject to the following
stipulations and conditions:

(i) $150,000 of the State grant authorized by this
Act shall be used for the preservation, improvement, restoration,
and development of the Western Maryland Station;

(ii) $150,000 of the State grant authorized by this
Act shall be used for the planning, design,, construction, and
development of a scenic railroad line in Allegany County;

(iii) Western Maryland Station Center, Inc. may not
use any State funds for the purposes specified in item (ii) of
this subsection (5) above unless and until the State funds for
the preservation, improvement, restoration, and development of
the Western Maryland Station have been spent or dedicated for
that purpose; and

(iv) To the extent that Western Maryland Station
Center, Inc. is unable to raise a sum up to $300,000 as a
matching fund as provided in Section 2(6) Section 1(6) herein,
any matching funds available up to $150,000 shall be used only
for the purposes set forth in item (i) of this subsection (5).
The excess of any funds raised as a matching fund over $150,000
shall be expended for the purposes set forth in item (ii) of this
subsection (5).