Ch. 137

LAWS OF MARYLAND

(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
Board of County Commissioners of Dorchester County shall provide
at least an equal and matching fund of $175,000. 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 Board of County Commissioners of Dorchester County
has until June 1, [1987] 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, [1987] 1989, the
proceeds of the loan shall be applied to the purposes authorized
in Article 78A, § 3 of the Code.

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

Approved April 29, 1987.

CHAPTER 137

(Senate Bill 115)

AN ACT' concerning.

County Transportation Bonds - Defeasance Procedures,

FOR the purpose of providing a procedure for defeasance of County
Transportation Bonds.

BY adding to

Article - Transportation

Section 3-310

Annotated Code of Maryland

(1977 Volume and 1986 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Transportation

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