Ch. 139                                           LAWS OF MARYLAND

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 139

(Senate Bill 516)

AN ACT concerning

Creation of a State Debt - Baltimore Museum of Industry

FOR the purpose of authorizing the creation of a State Debt in
the amount of $500,000 $250,000 the proceeds to be used as a
grant to the Baltimore Museum of Industry for the
construction, reconstruction, renovation, expansion,
improvement, and rehabilitation of the Museum, subject to
the requirement that the Baltimore Museum of Industry
provide at least an equal and matching fund of a certain
kind for the same purpose by a certain date; and providing
generally for the issue 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 Baltimore Museum of Industry Loan of 1989
in the total principal amount of $500,000 $250,000. 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.

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