HARRY HUGHES, Governor

1323

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 Food Bank, Inc. Loan of 1986 in
the total principal amount of $200,000 $150,000. 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: as a grant to Maryland Food Bank, Inc. for the
purpose of the planning, design, acquisition, renovation, repair,
improvement, and equipping of a building in Baltimore City to be
used by Maryland Food Bank, Inc. as a center for storage and
distribution of surplus food to nonprofit agency programs to feed
the needy, the ill, and children.

(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)  Prior to the payment of any funds under the provisions
of this Act for the purposes set forth in Section 1(3) above,
Maryland Food Bank, Inc. shall provide at least an equal and
matching fund of $200,000 $150,000. 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.
Maryland Food Bank, Inc. has until June 1, 1988, 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