Ch. 418

1993 LAWS OF MARYLAND

(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 County Executive and County Council of Howard County and the Board
of Directors of the Carroll Baldwin Memorial Institute for the construction of a barrier
free entrance to and the restoration and improvement of Carroll Baldwin Hall in Howard
County.

(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
issuance 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 County Executive and County Council of
Howard County and the Board of Directors of the Carroll Baldwin Memorial Institute
shall provide and expend a matching fund. If the matching fund is $70,000, the Board of
Directors of the Carroll Baldwin Memorial Institute shall provide at least $3,000 in
privately raised funds for the matching fund. If the matching fund is less than $70,000, the
Board of Directors of the Carroll Baldwin Memorial Institute shall provide at least 5% in
privately raised funds for the matching fund. 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 the amount of the matching fund or 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. The County Executive and County Council of Howard County and the
Board of Directors of the Carroll Baldwin Memorial Institute have until June 1, 1995, to
present evidence satisfactory to the Board of Public Works that a matching fund will be
provided. If satisfactory evidence is presented the Board shall certify this fact and the
amount of the matching fund to the State Treasurer, and the proceeds of the loan equal
to the amount of the matching fund shall be expended for the purposes provided in this
Act. Any amount of the loan in excess of the amount of the matching fund certified by the
Board of Public Works shall be canceled and be of no further effect;

(6)     (a) Prior to the issuance of the bonds, the County Executive and County
Council of Howard County and the Board of Directors of the Carroll Baldwin Memorial
Institute shall grant and convey to the Maryland Historical Trust a perpetual preservation
easement to the extent of its interest these interests:

(i) On the land or such portion of the land acceptable to the Trust;
and

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