Ch. 366

LAWS OF MARYLAND

CHAPTER 366

(Senate Bill 554)

AN ACT concerning

Creation of a State Debt - Elderly Citizen Activities Center-
Loan of 1987

FOR the purpose of authorizing the creation of a State debt in
the amount of $1,000,000, the proceeds to be used, subject
to certain terms and conditions, for State grants to local
government agencies, and for subgrants by local government
agencies to nonprofit organizations, for: (1) the
conversion of public buildings or parts of buildings to
Elderly Citizen Activities Centers, (2) the acquisition of
existing buildings or parts of buildings for use as Elderly
Citizen Activities Centers, (3) the renovation of Elderly
Citizen Activities Centers, (4) the purchase of capital
equipment for Elderly Citizen Activities Centers, and (5)
the planning, design, and construction of Elderly Citizen
Activities Centers, and for State grants to local government
agencies for the development of comprehensive master plans
for Elderly Citizen Activities Centers in the political
subdivisions; providing procedures for the approval of
grants; providing certain limitations on the amount of State
funds available to pay the costs of eligible work; providing
that the State may recover a certain portion of the State
funds expended under certain circumstances; requiring the
Director of the Office on Aging to adopt certain regulations
with certain approval and to make a certain report to the
General Assembly each year; 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 Elderly Citizen Activities Centers Loan
of 1987 in the total principal amount of $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.

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