Ch. 619                                     1993 LAWS OF MARYLAND

                                  CHAPTER 619               

(House Bill 1498)

AN ACT concerning

Creation of a State Debt - Doctors' Community Hospital - Ambulatory Medical Care

Facility

FOR the purpose of authorizing the creation of a State Debt not to exceed $5,000,000
$2,000,000 $750,000, the proceeds to be used as a grant to the Board of Directors of
Doctors' Community Hospital for the design, planning, construction, and equipping
of an ambulatory medical care facility at 8118 Good Luck Road, in Lanham,
Maryland, subject to the requirement that the Board of Directors of Doctors'
Community Hospital 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 Doctors'
Community Hospital - Ambulatory Medical Care Facility Loan of 1993 in a total principal
amount equal to the lesser of (i) $5,000,000 $2,000,000 $750,000 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 Directors of Doctors' Community Hospital for the design,
planning, construction, and equipping of an ambulatory medical care facility at 8118
Good Luck Road, in Lanham, 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 bond's 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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