WILLIAM DONALD SCHAEFER, Governor                    Ch. 339

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1987.

Approved May 14, 1987.

CHAPTER 339

(Senate Bill 312)

AN ACT concerning

Glenbrook Day School Loan of 1986

FOR the purpose of amending the provisions of Chapter 314 of the
Acts of 1986 to alter certain matching fund restrictions for
Glenbrook Day School and to require that the Glenbrook Day
School Loan of 1986 be known as the Ivymount School, Inc.
Loan upon approval by the State Department of Assessments
and Taxation.

BY repealing and reenacting, with amendments,

Chapter 314 of the Acts of the General Assembly of 1986
Section 1

BY adding to

Chapter 314 of the Acts of the General Assembly of 1986
Section 1(7)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 314 of the Acts of 1986

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 Glenbrook Day School Loan of. 1986 in the
total principal amount of $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.

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