1444                                            LAWS OF MARYLAND                                       Ch. 376

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 the County Executive and County
Council of Harford County for the purpose of improving the
economic development in Harford County through the planning,

design, reconstruction, rehabilitation, renovation, repair,

alteration, improvement, and equipping of a building in Harford
County. engineers' fees: as a grant to the Maryland Economic
Development Corporation for the purpose of improving the economic
development in Harford County through the planning and design of
the Bata Shoe Company Building in Harford County.

(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,

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(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
County Executive and County Council of Harford County shall

provide at least an equal and matching fund of $1,500,000
$125,000. 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. The County Executive and County
Council of Harford County have 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
by June 1, 1988, the proceeds of the loan shall be applied to the
purposes authorized in § 8-129 of the State Finance and
Procurement Article.