Ch. 166                                           LAWS OF MARYLAND

Approved May 5, 1989.

CHAPTER 166

(House Bill 137)

AN ACT concerning

Creation of a State Debt - Society for the Preservation
of Maryland Antiquities

FOR the purpose of authorizing the creation of a State Debt in
the amount of $150,000 $75,000 the proceeds to be used as a
grant to the Society for the Preservation of Maryland
Antiquities to assist in the renovation, rehabilitation,
reconstruction, repair, improvement, restoration, and
equipping of the old grist mill at Wye Mills, Maryland
commonly known as Wye Mill; requiring that certain easements
be granted to the Maryland Historical Trust, subject to the
requirement that the Society for the Preservation of
Maryland Antiquities 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 Society for the Preservation of Maryland
Antiquities Loan of 1989 in the total principal amount of
$150,000 $75,000. 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,

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