WILLIAM DONALD SCHAEFER, Governor                         Ch. 313

SECTION 3. AND BE IT FURTHER ENACTED, That § 7-301(f) of the
Education Article as enacted by this Act shall take effect July 1, 1992. It shall remain
effective for a period of [2] 5 years, and at the end of July 1, [1994] 1997, and with no
further action required by the General Assembly, shall be abrogated and of no further
force and effect.

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

Approved May 2, 1994.

CHAPTER 313
(House Bill 819)

AN ACT concerning

Creation of a State Debt - Ellis Island of Baltimore Museum

FOR the purpose of authorizing the creation of a State Debt not to exceed $500,000
$50,000, the proceeds to be used as a grant to the Board of Directors of the Ellis
Island of Baltimore Foundation, Inc. for the purchase of a building at 1900 East
Fort Avenue in Baltimore, for the repair, renovation, and reconstruction of the
building, and for the provision of capital equipment for the building, to be used as
a museum commemorating the arrival of immigrants in Baltimore, subject to the
requirement that the Board of Directors of the Ellis Island of Baltimore
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 Ellis Island of Baltimore 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 Ellis Island of
Baltimore Museum Loan of 1994 in a total principal amount equal to the lesser of (i)
$500,000 $50,000 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

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