Ch. 471

1993 LAWS OF MARYLAND

with special needs, and other community facilities for the citizens of Harford
County, subject to the requirement that the County Government of Harford County
provide and expend a matching fund and present by a certain date evidence that a
matching fund will be provided; 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 Harford County
- Highland Commons Loan of 1993 in a total-principal amount equal to the lesser of (i)
$250,000 $200,000 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 County Government of Harford County for the installation of an elevator
and a sprinkler system, improvement and upgrading of utilities, equipping, repair,
renovation, reconstruction, and expansion of the Highland Commons building in Harford
County for use as a community center that will include a senior center, library reading
room, school for children with special needs, and other community facilities for the
citizens of Harford 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 Government of Harford County shall
provide and expend a 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. The No part of the The fund may consist of real property, in kind
contributions,, in kind contributions, or funds expended prior to the effective date of this
Act. The fund may consist of in kind contributions. 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 Government of Harford County has until June 1, 1995, to present evidence
satisfactory to the Board of Public Works that a matching fund will be provided. If

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