WILLIAM DONALD SCHAEFER, Governor                    Ch. 540

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 540

(House Bill 1152)

AN ACT concerning

Creation of a State Debt - Druid Hill Park

FOR the purpose of authorizing the creation of a State Debt in
the amount of $350,000 $250,000 $350,000, the proceeds to be
used for a grant to the Mayor and City Council of Baltimore
for the purpose of developing, improving, restoring,
equipping and landscaping Druid Hill Park in Baltimore City;
subject to the condition that a matching fund of a certain
type and amount be provided 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 Druid Hill Park Loan of 1987 in the total
principal amount of $350,000 $250,000 $350,000. 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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