WILLIAM DONALD SCHAEFER, Governor

Ch. 361

(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: to be added to the Day Care Facilities Loan
Guaranty Guarantee Fund established by Article 41, § 13-301 of
the Code to be used by the Department of Economic and Community
Development for the purposes prescribed by law for the Fund.

(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.

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

Approved May 14, 1987.

CHAPTER 361
(Senate Bill 542)

AN ACT concerning

Creation of a State Debt -
Worcester County Correctional Facility Loan of 1987

FOR the purpose of authorizing the creation of a State debt in
the amount of $500,000, the proceeds to be used as a grant
to the Board of County Commissioners of Worcester County for
design, construction, and equipping of an addition to the
Worcester County Jail; making this Act contingent on the
passage of another Act; and providing generally for the
issuance and sale of bonds evidencing the loan.

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 Worcester County Correctional Facility
Loan of 1987 in the total principal amount of $500,000. This
loan shall be evidenced by the issuance, sale, and delivery of

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