1928                                             LAWS OF MARYLAND                                         Ch. 526

(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 Montgomery County Prerelease Center Loan
of 1986 in the total principal amount of $60,000 $63,000. 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 the County Executive and County
Council of Montgomery County for the purpose of assisting in the
planning, design, and construction of an expansion to the
Montgomery County Prerelease 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 Montgomery County shall
provide at least an equal and matching fund of $60,000 $63,000.
No part of an applicants 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 or in kind
contributions. The fund may consist of 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 Montgomery
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.

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