Ch. 667

LAWS OF MARYLAND

(d) All funds recovered as a result of this right of
recovery shall be deposited in the Annuity Bond Fund and applied
to the debt service requirements of the State. The Board of
Public Works may waive the State's right of recovery if the Board
determines that there is good cause for releasing the transferor,
transferee, or owner from this obligation.

(10) 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.

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

Approved May 27, 1988.

CHAPTER 667

(House Bill 629)

AN ACT concerning

Creation of a State Debt - Adult Day Care Centers Loan of 1988

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,200,000, the proceeds to be used for State
grants to certain counties, municipal corporations, and
nonprofit organizations for: (1) the conversion of public
buildings or parts of buildings to Adult Day Care Centers,
(2) the acquisition of existing buildings or parts of
buildings for use as Adult Day Care Centers, (3) the
renovation of Adult Day Care Centers, (4) the purchase of
capital equipment for Adult Day Care Centers, and (5) the
planning, design, and construction of Adult Day Care
Centers; defining certain terms; requiring the Department of
Health and Mental Hygiene and permitting the Board of Public
Works to adopt certain regulations; providing that State
funds are available for certain eligible work; providing
limitations on the amount of State grants; providing that no
proceeds of a grant may be used for certain religious
purposes; providing that, under certain circumstances, the
State may recover a certain portion of the State funds
expended; and providing generally for the issuance and sale
of bonds evidencing the loan.

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