WILLIAM DONALD SCHAEFER, Governor Ch. 420
Approved May 27, 1993.
CHAPTER 420
(Senate Bill 253)
AN ACT concerning
Creation of a State Debt - Engine Company 33-Community Center
FOR the purpose of authorizing the creation of a State Debt not to exceed $250,000
$50,000, the proceeds to be used as a grant to the Board of Directors of Quality of
Life, Inc. for the design, renovation, reconstruction, repair, and equipping of the
Engine Company 33 building at 49 1749 Gorsuch Avenue and the adjoining corner
building at 2630 Harford Road, for use as a community center, subject to the
requirement that the Mayor and City Council of Baltimore provide a matching fund
and present by a certain date evidence that a matching fund will be provided;
requiring the Board of Directors of Quality Life, Inc. to grant and convey a certain
easement to the Maryland Historical Trust; and providing generally for the issuance
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 Engine Company
33-Community Center Loan of 1993 in a total principal amount equal to the lesser of (i)
$250,000 $50,000 or (ii) the amount of the matching fund provided in accordance with
Section 1(5) below. 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 Board of Directors of Quality of Life, Inc. for the design, renovation,
reconstruction, repair, and equipping of the Engine Company 33 building at 1749
Gorsuch Avenue and the adjoining corner building at 2630 Harford Road, for use as a
community center.
- 2309 -
|
![clear space](../../../images/clear.gif) |