WILLIAM DONALD SCHAEFER, Governor Ch. 544

Hagerstown City Park, for the design, planning,
construction, and equipping of a new addition to the
Washington County Museum of Fine Arts, and for the
renovation, expansion, improvement, and equipping of
existing galleries and work areas, subject to the
requirement that the Washington County Museum of Fine Arts
provide at least an equal and matching fund of a certain
kind for the same purpose by a certain date; requiring that
certain easements be granted to the Maryland Historical
Trust; 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 Washington County Museum of Fine Arts
Loan of 1988 in the total principal amount of $1,000,000
$750,000. 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 Washington County Museum of
Fine Arts in Hagerstown City Park for the design, planning,
construction, and equipping of a new addition to the Washington
County Museum of Fine Arts and for the renovation, expansion,
improvement, and equipping of existing galleries and work areas,
to be used for the exhibition, collection, and interpretation of
fine arts.

(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.

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