WILLIAM DONALD SCHAEFER, Governor Ch. 142

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 Johns Hopkins University to
assist in the planning, design, construction, and equipping of a
physics and astronomy building.

(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,
shall be contingent upon the provision by The Johns Hopkins
University of a sum up to $2,500,000 $2,000,000 as a matching
fund for this project. No part of an applicant's matching fund
may be provided from State funds either directly or indirectly,
in whole or in part. No part of the fund may consist of real
property or in kind contributions. 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 Johns Hopkins University has until June 1, 1991,
to present evidence satisfactory to the Board of Public Works of
the sum that it has raised as a matching fund for this purpose.
Upon a certification of suitable evidence from the Board of
Public Works on or before June 1, 1991, the proceeds of the loan
shall be expended in accordance with the provisions of this Act.
To the extent that satisfactory evidence of the raising of a sum
up to $2,500,000 $2,000,000 as a matching fund for this project
is not presented to the Board of Public Works on or before June
1, 1991, no funds under the provisions of this Act shall
thereafter be paid over to or expended for the purposes set forth
in Section 1(3) above, and the remaining 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.

- 1915 -