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 Mayor and City Council of Greenbelt for the restoration, historic
preservation, repair, rehabilitation, reconstruction, and renovation renovation, and
equipping of the Greenbelt Center School as a community center.

(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 Mayor and City Council of Greenbelt 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 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 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
Mayor and City Council of Greenbelt have until June 1, 1996, 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 Treasurer, and the proceeds of the loan equal to the amount
of the matching fund shall be expended for the purposes provided in this Act. Any
amount of the loan in excess of the amount of the matching fund certified by the Board
of Public Works shall be canceled and be of no further effect.

(6)     (a) Prior to the issuance of the bonds, the Mayor and City Council of
Greenbelt shall grant and convey to the Maryland Historical Trust a perpetual
preservation easement to the extent of its interest:

(i) On the land or such portion of the land acceptable to the Trust;
and

(ii) On the exterior and interior, where appropriate, of the historic
structures.

(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.

- 1570 -

1994 LAWS OF MARYLAND

Ch. 186