WILLIAM DONALD SCHAEFER, Governor                             Ch. 2

YWCA of Annapolis and Anne Arundel County to use the proceeds of the loan to
acquire, renovate, and repair a building for use as a day care center, the YWCA
Parenting Center, the Woman's Center, and administrative offices, and to pay down
or off any interim financing incurred in making an acquisition for this project;
extending from June 1, 1992 to June 1, 1994 the time for the YWCA of Annapolis
and Anne Arundel County to provide to the Board of Public Works evidence that a
matching fund will be provided; and making this Act an emergency measure.

BY repealing and reenacting, with amendments,

Chapter 306 of the Acts of the General Assembly of 1990
Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 306 of the Acts of 1990

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 YWCA of
Annapolis and Anne Arundel County Loan of 1990 in a total principal amount equal to
$250,000. 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 YWCA of Annapolis and Anne Arundel County for the acquisition of
land and the construction of a building OR FOR THE ACQUISITION, RENOVATION, AND
REPAIR OF A BUILDING in Anne Arundel County [that will contain] FOR USE AS a day
care center, the YWCA Parenting Center, the YWCA Woman's Center, and
administrative offices AND FOR PAYING DOWN OR OFF ANY INTERIM FINANCING
PREVIOUSLY INCURRED IN MAKING AN ACQUISITION FOR THIS PROJECT.

(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
issue of the bonds.

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