Ch. 526                                     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 Board of Directors of The Union Hospital of Cecil County, Inc. located
at 106 Bow Street in Elkton in Cecil County, for the repair, renovation, rehabilitation,
reconstruction, and construction, and equipping of the Emergency Department of the
Hospital.

(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 Union Hospital of
Cecil County, 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 in kind
contributions or funds expended prior to the effective date of this Act. The fund may
consist of real property. 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
Union Hospital of Cecil County, Inc. has until June 1, 1994 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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