WILLIAM DONALD SCHAEFER, Governor

Ch. 278

CHAPTER 278

(House Bill 1446)

AN ACT concerning

Creation of a State Debt - Maryland
4-H Foundation

FOR the purpose of authorizing the creation of a State Debt in
the amount of $100,000 the proceeds to be used as a grant to
the Maryland 4-H Foundation for the purpose of the
construction and equipping of a building to be located on
the University of Maryland College Park Campus and to be
used by the Maryland 4-H Foundation for office space, a
conference and meeting room, a resource library, and a
storage and archives room, subject to the requirement that
the Maryland 4-H Foundation provide a 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 Maryland 4-H Foundation Loan of 1989 in
the total principal amount of $100,000. 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 Maryland 4-H Foundation for
the purpose of the construction and equipping of a building to be

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