WILLIAM DONALD SCHAEFER, Governor                   Ch. 790

WHEREAS, Certain portions of the loans owed to the State of
Maryland have been outstanding since 1969; and

WHEREAS, It is in the interest of the State to have such
below market rate loans paid off; and

WHEREAS, It is common practice in the financial marketplace
to discount below market rate loans when prepaid; and

WHEREAS, Discounting will encourage the prepayment of the
loans and the conversion of the indebtedness to conventional
financing; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

The State Board of Public Works is hereby authorized and
directed to enter into an agreement to accept prepayment a
prepayment agreement that would include prepayment at a discount
of existing indebtedness owed the State of Maryland by Liberty
Medical Center, Inc. The State Board of Public Works is hereby
authorized to negotiate the refinancing of existing indebtedness
owed to the State by Liberty Medical Center, Inc. Any such
negotiation should include consideration of the impact on the
provision of medical services by Liberty Medical and debt and/or
losses incurred by Liberty Medical as part of the Provident
Hospital acquisition in 1986. at the rate of (1) 65% of
outstanding indebtedness with respect to amounts prepaid on or
before December 31, 1988, or (2) 70% with respect to amounts
prepaid on or before December 31, 1990, or (3) 75% with respect
to amounts prepaid on or before December 31, 1992. Prior to
implementation, the agreement must be reviewed and approved by
the Legislative Policy Committee of the General Assembly.

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

Approved May 27, 1988.

CHAPTER 790

(House Bill 1344)

AN ACT concerning

Surface Mining - Agreement to Allow Entry on Land

FOR the purpose of altering the time period during which the
Department of Natural Resources may enter on certain land on

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