Ch. 211                                    1994 LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1994.

Approved May 2, 1994.

CHAPTER 211
(Senate Bill 812)

AN ACT concerning

Creation of a State Debt - Ellicott City Colored School

Ho. Co. 8-94

FOR the purpose of authorizing the creation of a State Debt not to exceed $ 220,000
$206,000, the proceeds to be used as a grant to the Central Maryland Chapter of the
Afro-American Historical & Genealogical Society, Inc. for the restoration and
preservation of the Ellicott City Colored School, subject to the requirement that the
Central Maryland Chapter of the Afro-American Historical & Genealogical
Society, Inc. provide and expend a matching fund and present by a certain date
evidence that a matching fund will be provided; requiring the Central Maryland
Chapter of the Afro-American Historical & Genealogical Society, 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 Ellicott City
Colored School Loan of 1994 in a total principal amount equal to the lesser of (i)
$220,000 $206,000 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 Central Maryland Chapter of the Afro-American Historical &
Genealogical Society, Inc. for the restoration and preservation of the Ellicott City
Colored School.

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