WILLIAM DONALD SCHAEFER, Governor                   Ch. 669

facilities, and in financing the acquisition of real
property or interests in land required in connection with
those buildings, site improvements, and facilities;
requiring the filing of certain information; placing limits
on the amount of the grants; and providing generally for
issuance 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 Public Junior, Community, and Regional
Community College Facilities Construction Loan of 1988 in the
total principal amount of $5,400,000. 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: to assist the counties and Baltimore City in
financing the design and construction of public junior,
community, and regional community college buildings, site
improvements, and facilities, and in financing the acquisition of
real property or interests in land required in connect connection
with those buildings, site improvements, and facilities, on the
following terms and conditions:

(a) Whenever a county or Baltimore City desires, or
whenever the counties that support a regional community college
desire, to participate in the financial assistance provided for
by this Act, the jurisdiction or jurisdictions shall file with
the State Board for Community Colleges a petition and such
information as the State Board for Community Colleges requires,
together with a complete proposal for each project for which
financial assistance is desired. The State Board for Community
Colleges shall submit to the State Board for Higher Education a
copy of each petition and project proposal.

- 4533 -