WILLIAM DONALD SCHAEFER, Governor

Ch. 229

a loan or any matching funds may be used for religious purposes; requiring the
Board of Directors of Clergy United for Renewal of East Baltimore, Inc. to grant
and convey certain easements 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 CURE Heart,
Body, and Soul Loan of 1994 in the a total principal amount of $1,000,000 equal to the
lesser of (i) $500,000 $200,000 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 Clergy United for Renewal of East Baltimore, Inc.
for the renovation of four buildings located at 901 through 907 North Broadway in
Baltimore City to be used as operational headquarters, a community health center, and a
nonprofit revenue-generating business for the CURE Heart, Body, and Soul Program.

(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 Clergy United for
Renewal of East Baltimore, Inc. shall provide and expend a matching fund of $200,000.
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 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 Board of Directors of Clergy
United for Renewal of East Baltimore, Inc. has 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

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