WILLIAM DONALD SCHAEFER, Governor                         Ch. 533

CHAPTER 533
(House Bill 581)

AN ACT concerning

Creation of a State Debt - Montgomery County - Community Clinic, Inc.

FOR the purpose of authorizing the creation of a State Debt not to exceed $400,000
$200,000, the proceeds to be used as a grant to the County Executive and County
Council of Montgomery County for the repair, renovation, rehabilitation,
reconstruction, construction, equipping, and furnishing of a building in Silver Spring
for use by the Community Clinic, Inc., in for use as a medical center for providing
primary health care services to homeless or low-income individuals and families in
Montgomery County, subject to the requirement that the County Executive and
County Council of Montgomery 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 Montgomery
County - Community Clinic, Inc. Loan of 1993 in a total principal amount equal to the
lesser of (i) $400,000 $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 Executive and County Council of Montgomery County for the
repair, renovation, rehabilitation, reconstruction, construction, equipping, and furnishing
of a building in Silver Spring for use by the Community Clinic, Inc., for use as a medical
center that provides for providing primary health care services to homeless or low-income
individuals and families in Montgomery 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.

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