WILLIAM DONALD SCHAEFER, Governor                         Ch. 124

Chapter 482 of the Acts of 1991, as amended by Chapter 257 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 Montgomery
County Day Care Center Loan of 1991 in a total principal amount equal to the lesser of
(i) $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 County Executive and County Council of Montgomery County for the
site preparation, planning, design, construction, equipping, and furnishing of a day care
center at the Shady Grove Metro Station.

(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 County Executive and County Council of
Montgomery County and the Foundation for Working Families, Inc. of Montgomery
County shall provide 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 or funds expended prior
to the effective date of this Act. Up to $150,000 of the fund may consist of in kind
contributions, the dollar value of which shall be documented to the Board of Public
Works. 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 County Executive and County Council of
Montgomery County and the Foundation for Working Families, Inc. of Montgomery
County has until June 1, [1994] 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

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