WILLIAM DONALD SCHAEFER, Governor Ch. 138
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 Central Maryland Chapter, American
National Red Cross Loan of 1989 in the total principal amount of
$1,000,000. 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.
(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: as a grant to the Central Maryland Chapter,
American National Red Cross for the planning, design,
construction, and equipping of facilities for the Blood Services,
Chesapeake Region, Central Maryland Chapter, American National
Red Cross.
(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
Central Maryland Chapter, American National Red Cross shall
provide at least an equal and matching fund of $1,000,000. No
part of an An 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 or in kind contributions. No part of the
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 Central Maryland Chapter,
American National Red Cross has 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
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