WILLIAM DONALD SCHAEFER, Governor Ch. 162

CHAPTER 162

(House Bill 93)

AN ACT concerning

Creation of a State Debt - Weinberg Center for the Arts

FOR the purpose of authorizing the creation of a State Debt in
the amount of $300,000 $150,000 the proceeds to be used as a
grant to the City of Frederick for the purpose of improving
and equipping the interior of the Weinberg Center for the
Arts, in the City of Frederick, Frederick County, subject to
the requirement that the City of Frederick provide at least
an equal and matching fund of a certain kind for the same
purpose by a certain date; requiring that certain easements
be granted to the Maryland Historical Trust; 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 Weinberg Center for the Arts Loan of 1989
in the total principal amount of $300,000 $150,000. 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 City of Frederick for the
purpose of improving and equipping the interior of the Weinberg
Center for the Arts in the City of Frederick, Frederick County.

- 1953 -