Ch. 131

LAWS OF MARYLAND

(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.

(5)  Prior to the payment of any funds under the provisions
of this Act for the purposes set forth in Section 1(3) above, the
Mayor and City Council of Baltimore shall provide and the
Baltimore Museum of Art, Inc. shall provide in aggregate at least
an equal and matching fund of $240,000. No part of an
applicant's matching fund may be provided, either directly or
indirectly, from funds of the State, whether appropriated or
unappropriated. No part of the fund may consist of real
property, in kind contributions, or funds expended prior to the
effective date of this Act. In case of any dispute as to what
money or assets may qualify as matching funds, the Board of
Public Works shall determine the matter, and the Board's decision
is final. The Mayor and City Council of Baltimore have until
June 1, 1991, to present evidence satisfactory to the Board of
Public Works that the matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify this
fact to the State Treasurer and the proceeds of the loan shall be
expended for the purposes provided in this Act. If this evidence
is not presented by June 1, 1991, the proceeds of the loan shall
be applied to the purposes authorized in § 8-129 of the State
Finance and Procurement Article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1989.

Approved May 5, 1989.

CHAPTER 131

(Senate Bill 424)

AN ACT concerning

Prince George's County - Mount Rainier Community
Recreation Center Loan of 1986

FOR the purpose of amending Chapter 600 of the Acts of the
General Assembly of 1986 to extend the time for the Mayor
and City Council of Mount Rainier to provide certain
evidence of a matching fund to the Board of Public Works;
altering a reference to the grantee; and generally relating
to the Prince George's County - Mount Rainier Recreation
Center Loan of 1986.

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