Ch. 206

LAWS OF MARYLAND

CHAPTER 206

(House Bill 477)

AN ACT concerning

Creation of a State Debt - Washington County Detention Center

FOR the purpose of authorizing the creation of a State Debt in
the amount of $1,000,000 $80,000 the proceeds to be used as
a grant to the Washington County Commissioners for the
expansion and construction design of an addition to the
Washington County Detention Center, subject to the
requirement that the Washington County Commissioners 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 Washington County Detention Center Loan
of 1989 in the total principal amount of $1,000,000 $80,000.
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 Washington County
Commissioners for the expansion and construction design of an
addition to the Washington County Detention Center.

(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.

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