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LAWS OF MARYLAND

Ch. 335

on approval by the Board of Public Works, for the following
public purposes, including any applicable architects' and
engineers' fees: as a grant to the The Johns Hopkins University
to assist in the planning, design, renovation, alteration, and
equipping of Gilman Hall.

(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.

(5)  The payment of any funds under the provisions of this
Act for the purposes set forth in Section 1(3) above, shall be
contingent upon the provision by the The Johns Hopkins University
of a sum up to $1,500,000 $1,000,000 as a matching fund for this
project. No part of an applicant's matching fund may be provided
from State funds, either directly or indirectly, in whole or in
part. No part of the fund may consist of real property or in
kind contributions. 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 Johns Hopkins University has until June 1, 1988, to present
evidence satisfactory to the Board of Public Works of the sum
that it has raised as a matching fund for this purpose. Upon a
certification of suitable evidence from the Board of Public Works
on or before June 1, 1988, the proceeds of the loan shall be
expended in accordance with the provisions of this Act. To the
extent that satisfactory evidence of the raising of a sum up to
$1,500,000 $1,000,000 as a matching fund for this project is not
presented to the Board of Public Works on or before June 1, 1988,
no funds under the provisions of this Act shall thereafter be
paid over to or expended for the purposes set forth in Section
1(3) above, and the remaining proceeds of the loan shall be
applied to the purposes authorized in § 8-129 of the State
Finance and Procurement Article.

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

Approved May 13, 1986.