WILLIAM DONALD SCHAEFER, Governor

Ch. 518

CHAPTER 518
(House Bill 405)

AN ACT concerning

Creation of a State Debt - Carroll County General Hospital - Emergency Room

FOR the purpose of authorizing the creation of a State Debt not to exceed $750,000
$700,000, the proceeds to be used as a grant to the Board of Trustees of the Carroll
County General Hospital, Inc. for the repair, renovation, rehabilitation,
reconstruction, expansion, construction, and equipping of the Emergency Room of
the Carroll County General Hospital in Westminster, subject to the requirement
that the Board of Trustees of the Carroll County General Hospital, Inc. 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 Carroll County
General Hospital - Emergency Room Loan of 1993 in a total principal amount equal to
the lesser of (i) $750,000 $700,000, 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 Trustees of the Carroll County General Hospital, Inc. for the
repair, renovation, rehabilitation, reconstruction, expansion, construction, and equipping
of the Emergency Room of the Carroll County General Hospital in Westminster.

(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 Trustees of the Carroll County
General Hospital, Inc. shall provide and expend a matching fund. No part of an

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