Ch. 153                             . 1994 LAWS OF MARYLAND

proceeds to be used as a grant to the Board of Directors of the Committee of 100 of
Dorchester, Inc. James B. Richardson Foundation, Inc. for the planning, design,
repair, renovation, reconstruction, and construction of, and for the acquisition and
installation of capital equipment in, a building located at 401 High Street in
Cambridge in Dorchester County, to be used as a historical museum for Dorchester
County, subject to the requirement that the Board of Directors of the Committee of
100 of Dorchester, Inc. James B. Richardson Foundation, Inc. provide and expend
a matching fund and present by a certain date evidence that a matching fund will be
provided; requiring the Board of Directors of the Committee of 100 of Dorchester,
Inc. James B. Richardson Foundation, Inc. to grant and convey a certain easement
to the Maryland Historical Trust; 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 Dorchester
County - Historical Museum Loan of 1994 in a total principal amount equal to the lesser
of (i) $300,000 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 the Committee of 100 of Dorchester, Inc. James B.
Richardson Foundation, Inc. for the planning, design, repair, renovation, reconstruction,
and construction of, and for the acquisition and installation of capital equipment in₂ a
building located at 401 High Street in Cambridge in Dorchester County, to be used as a
historical museum for Dorchester 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.

(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 Board of Directors of the Committee of 100
of Dorchester, Inc. James B. Richardson Foundation, Inc. shall provide and expend 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

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