HARRY HUGHES, Governor                                       1291

used as a grant to the University of Maryland Medical
Systems Corporation for the use of the Maryland Institute
for Emergency Medical Services Systems for the purpose of
the design, construction, renovation, and equipping of
emergency medical and support facilities located at or
adjacent to the University of Maryland in Baltimore City;
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 Maryland Institute for Emergency Medical
Services Systems Loan of 1986 in the total principal amount of
$10,000,000 $7,000,000. This loan shall be evidenced by the
issuance, sale, and delivery of State general obligation bonds
authorized by a resolution of the Board of Public Works and
issued, sold, and delivered in accordance with §§ 8-117 through
8-124 of the State Finance and Procurement Article and Article
31, § 22 of the Code.

(2)  The bonds to evidence this loan or installments of this
loan may be sold as a single issue, or may be consolidated and
sold as part of a single issue of bonds under § 8-122 of the
State Finance and Procurement Article.

(3)  The cash proceeds of the sale of the bonds shall be
paid to the Treasurer and first shall be applied to the payment
of the expenses of issuing, selling, and delivering the bonds,
unless funds for this purpose are otherwise provided, and then
shall be credited on the books of the Comptroller and expended,
on approval by the Board of Public Works, for the following
public purposes, including any applicable architects' and
engineers' fees: to be used as a grant to the University of
Maryland Medical Systems Corporation for the use of the Maryland
Institute for Emergency Medical Services Systems for the purpose
of design, construction, renovation, and equipping of emergency
medical and support facilities located at or adjacent to the
University of Maryland in Baltimore City.

(4)  An annual State tax is imposed 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. The principal shall be discharged within 15 years
after the date of issue of the bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1986.

Approved May 13, 1986.