Ch. 532

1993 LAWS OF MARYLAND

as a grant to the Mayor and City Council of Laurel for the repair, renovation,
rehabilitation, and reconstruction of a building on Main Street in Laurel and for the
excavation and grading of the land on which the house building is located, the property to
be used as the Laurel Historical Museum.

(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 Mayor and City Council of Laurel 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
Mayor and City Council of Laurel have 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.

(6) (a) Prior to the issuance of the bonds, the Mayor and City Council of Laurel
shall grant and convey to the Maryland Historical Trust a perpetual preservation
easement to the extent of the interest of each these interests:

(i) On the land or such portion of the land acceptable to the Trust;

and

(ii) On the exterior and interior, where appropriate, of the historic
structures,                                   

(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.

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

Approved May 27, 1993.           

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