WILLIAM DONALD SCHAEFER, Governor                   Ch. 449

Approved May 14, 1987.

CHAPTER 449

(House Bill 296)

AN ACT concerning

Creation of a State Debt - Marietta Mansion

FOR the purpose of authorizing the creation of a State Debt in
the amount of $150,000, the proceeds to be used as a grant
to the Maryland-National Capital Park and Planning
Commission for the purpose of the planning, design,
reconstruction, rehabilitation, renovation, and restoration
of the historic mansion known as "Marietta" and located in
the Glenn Dale area of Prince George's County, subject to
the requirement that the Maryland-National Capital Park and
Planning Commission provide at least an equal and matching
fund of a certain kind for the same purpose by a certain
date; and providing generally for the issue 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 Marietta Mansion 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 Maryland-National Capital Park

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