Ch. 570                        LAWS OF MARYLAND

SECTION 5. AND BE IT FURTHER ENACTED, That Sections 1
through 3 of this Act shall take effect January 1, 1989.

SECTION 6. AND BE IT FURTHER ENACTED, That Section 4 of
this Act shall take effect July 1, 1990.

Approved May 27, 1988.

CHAPTER 570

(Senate Bill 259)

AN ACT concerning

Creation of a State Debt - College of Notre Dame of Maryland

FOR the purpose of authorizing the creation of a State Debt in
the amount of $2,000,000, the proceeds to be used as a grant
to the College of Notre Dame of Maryland to assist in the
planning, design, renovation, replacement, and equipping of
Gibbons Hall, Meletia Hall, and other academic facilities,
subject to the requirement that the College of Notre Dame of
Maryland provide up to a certain sum of a certain type of
funds as a matching fund for the same purpose by a certain
date; providing that no proceeds of the loan or any of the
matching funds may be used for religious purposes; 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 College of Notre Dame of Maryland Loan of
1988 in the total principal amount of $2,000,000. 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.

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