WILLIAM DONALD SCHAEFER, Governor Ch. 235
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, the
Glen Echo Park Foundation shall provide at least an equal and
matching fund of $500,000 $300,000. No part of an applicant's
matching fund may be provided, either directly or indirectly,
from funds of the State, whether appropriated or unappropriated.
No part of the fund may consist of real property, in kind
contributions, or funds expended prior to the effective date of
this Act. 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. Glen
Echo Park Foundation has until June 1, 1991, to present evidence
satisfactory to the Board of Public Works that the matching fund
will be provided. If satisfactory evidence is 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 235
(House Bill 733)
AN ACT concerning
Creation of a State Debt -
Gaithersburg Latitude Observatory and Science Center Site
MC 906-89
FOR the purpose of authorizing the creation of a State Debt in
the amount of $250,000 $50,000 $100,000, the proceeds to be
used as a grant to the Mayor and City Council of
Gaithersburg for the restoration of the Gaithersburg
Latitude Observatory and for the conversion, reconstruction,
renovation, and rehabilitation of the caretaker's house on
the observatory site, to a Science Center, or for the
construction of a new Science Center on that site, subject
to the requirement that the Mayor and City Council of
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