Ch. 340                                          LAWS OF MARYLAND

Approved May 17, 1988.

CHAPTER 340

(Senate Bill 722)

AN ACT concerning

Creation of a State Debt - Montgomery County

Pre-Release Center

MC 811-88

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,147,000, the proceeds to be used as a grant
to the County Executive and County Council of Montgomery
County for the construction and equipping of a Pre-Release
Center in Montgomery County, subject to the requirement that
the County Executive and County Council of Montgomery County
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 Montgomery County Pre-Release Center Loan
of 1988 in the total principal amount of $1,147,000. 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 County Executive and County

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