Ch. 457                                          LAWS OF MARYLAND

Chapter 491 of the Acts of 1986

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 Arthur G. Murphy, Sr. Youth Services
Center Loan of 1986 in the total principal amount of $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.

(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: to be paid or disbursed to or for the account of
the Juvenile Services Administration AGENCY for the purpose of
the acquisition, planning, design, rehabilitation,
reconstruction, renovation, repair, and improvement of the
[building in Baltimore City currently used as the] Arthur G.
Murphy, Sr. Youth Services Center LOCATED AT 2400 HARMAN AVENUE
in BALTIMORE, MARYLAND, including the acquisition and
installation of capital equipment [and the acquisition of
property adjacent to the building],

(4)  An annual State tax is imposed on all assessable
property in the State in rate and amount sufficient to pay the
principal of and interest on the bonds, as and when due and until
paid in full. The principal shall be discharged within 15 years
after the date of issue of the bonds.

(5)  THE PROCEEDS OF THE LOAN AUTHORIZED FOR THE PURPOSES
SET FORTH IN SECTION 1(3) OF THIS ACT SHALL NOT TERMINATE AS
SPECIFIED IN § 8-128 OF THE STATE FINANCE AND PROCUREMENT
ARTICLE. THE JUVENILE SERVICES AGENCY SHALL HAVE UNTIL JUNE 1,
1990 TO CONTRACT WITH THE BOARD OF PUBLIC WORKS FOR THE
COMMITMENT OF FUNDS FOR THE PURPOSES AUTHORIZED UNDER THIS ACT.

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