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Session Laws, 1994
Volume 773, Page 1417   View pdf image
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WILLIAM DONALD SCHAEFER, Governor                         Ch. 123

Learning Centers, Inc. to provide certain evidence of a matching fund to the Board
of Public Works.

BY repealing and reenacting, with amendments,

Chapter 624 of the Acts of the General Assembly of 1989, as amended by Chapter
107 of the Acts of the General Assembly of 1991 and Chapter 213 of the Acts
of the General Assembly of 1992

Section 1

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

Chapter 624 of the Acts of 1989, as amended by Chapter 107 of the Acts of 1991 and

Chapter 213 of the Acts of 1992

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 Treatment and
Learning Centers, Inc. Loan of 1989 in the total principal amount of $950,000. 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 Treatment and Learning Centers, Inc. for the addition and construction
of a new wing to the Treatment and Learning Center located in the Montgomery County
Life Science Park in Gaithersburg, 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
issue 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 Treatment and Learning Centers, Inc. shall
provide at least an equal and matching fund of $950,000. 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 what money or assets may qualify as matching funds, the

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Session Laws, 1994
Volume 773, Page 1417   View pdf image
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