WILLIAM DONALD SCHAEFER, Governor                         Ch. 491

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 The Memorial Hospital at Easton, Maryland, Inc.
for the planning, design, construction, and equipping of an expansion of and an addition
to the Regional Cancer Center in Easton, Maryland.

(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 Board of Directors of The Memorial
Hospital at Easton, Maryland, Inc. 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. 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 Board of Directors of The Memorial Hospital at Easton,
Maryland, Inc. has 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.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1993.

Approved May 27, 1993.

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