WILLIAM DONALD SCHAEFER, Governor Ch. 495

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved May 17, 1988.

CHAPTER 495

(House Bill 1195)

AN ACT concerning

Creation of a State Debt - Baltimore County -
Shoreline Enhancement Program

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,000,000, the proceeds to be used as a grant
to the County Executive and County Council of Baltimore
County for shoreline enhancement activities including
necessary studies, sediment removal operations, structural
and non-structual improvements, coastline stabilization,
wetland creation, revegetation, erosion control, and
acquisition of property and necessary equipment in Baltimore
County, subject to the requirement that the County Executive
and County Council of Baltimore 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 Baltimore County Shoreline Enhancement
Program Loan of 1988 in the total principal amount of $1,000,000.
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,

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