Ch. 357                                    LAWS OF MARYLAND

loan to be known as the Havre de Grace Decoy Museum Loan of 1987
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.

(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 Mayor and City Council of the
City of Havre de Grace for the purpose of rehabilitation,
renovation, reconstruction, restoration, site improvement,
furnishing, and equipping of the Havre de Grace Decoy Museum in
the City of Havre de Grace.

(4)  An annual State tax is imposed oh 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
Mayor and City Council of Havre de Grace shall provide at least
an equal and matching fund of $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. 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
Mayor and City Council of Havre de Grace have until June 1, 1989,
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, 1989, 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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