Ch. 410

LAWS OF MARYLAND

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
City of Frederick shall provide at least an equal and matching
fund of $3,000,000 $2,000,000. No part of an applicant's
matching fund may be provided, either directly or indirectly,
from funds of the State, whether appropriated or unappropriated.
No part of 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
City of Frederick has 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.

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

Approved May 14, 1987.                                                                           

CHAPTER 410

(Senate Bill 937)

AN ACT concerning

Creation of a State Debt - Baltimore
County - Waterway Reclamation Program

FOR the purpose of authorizing the creation of a State Debt in
the amount of $3,000,000 $1,000,000, the proceeds to be used
as a grant to the County Executive and County Council of
Baltimore County for waterway reclamation activities
including necessary studies, sediment removal operation's,
structural and nonstructural improvements, stream and river
bank reconstruction, revegetation, erosion control, and
acquisition of property and necessary equipment in the
eastern Baltimore County coastline watersheds; and providing
generally for the issue and sale of bonds evidencing the
loan.

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