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HARRY HUGHES, Governor 1861
System, Inc. Prince George's General Hospital and Medical Center
Loan of 1986 in the total principal amount of $4,845,000
$1,550,000 $1,000,000. 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: as a grant to Community Hospital and Health-Care
System, Inc. the County Executive and County Council of Prince
George's County for the purpose of the construction, improvement,
renovation, modernization, and equipping of the Prince George's
General Hospital and Medical Center's Department of Physical
Medicine and Rehabilitation, Department of Respiratory Therapy,
Laboratory, Central Sterile Processing Department, and the
Emergency Room that support and are essential to the delivery of
emergency medicine at the Shock Trauma Center at the Prince
George's General Hospital and Medical Center and for the purpose
of the construction, modernization, improvement, renovation, and
equipping of the Labor and Delivery and Nursery Suites at the
Prince George's General Hospital and Medical Center.
(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, the
County Executive and County Council of Prince George's County
shall provide at least an equal and matching fund of $1,000,000
$1,000,000. 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 Prince George's County have until June 1, 1988, to
present evidence satisfactory to the Board of Public Works that
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