Ch. 469                                          LAWS OF MARYLAND

CHAPTER 469

(House Bill 829)

AN ACT concerning

Creation of a State Debt - The Johns Hopkins Health
System Corporation

FOR the purpose of authorizing the creation of a State Debt in
the amount of $2,500,000 $1,500,000, the proceeds to be used
as a grant to The Johns Hopkins Health System Corporation
for the planning, design, site improvement, construction,
reconstruction, and equipping of an Oncology Center located
at The Johns Hopkins Hospital, subject to the requirement
that The Johns Hopkins Health System Corporation 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 Johns Hopkins Health System Corporation
Loan of 1988 in the total principal amount of $2,500,000
$1,500,000. 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 Johns Hopkins Health System
Corporation for the planning, design, site improvement,
construction, reconstruction, and equipping of an Oncology Center
located at The Johns Hopkins Hospital.

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