Ch. 331

1994 LAWS OF MARYLAND

(A) AS A GRANT IN AN AMOUNT EQUAL TO THE LESSER OF (I) $1,500,000 OR (II)
THE AMOUNT OF THE MATCHING FUND PROVIDED IN ACCORDANCE WITH SECTION
1(5)(A) BELOW, TO CAPITOL COLLEGE TO ASSIST IN THE PLANNING, DESIGN,
CONSTRUCTION, REPAIR, RENOVATION, ALTERATION CONVERSION, AND EQUIPPING OF,
AND FOR AN ADDITION TO A LIBRARY; AND

(B) AS A GRANT IN AN AMOUNT EQUAL TO THE LESSER OF (I) $1,000,000 OR (II)
THE AMOUNT OF THE MATCHING FUND PROVIDED IN ACCORDANCE WITH SECTION
1(5)(B) BELOW, TO THE COLLEGE OF NOTRE DAME OF MARYLAND TO ASSIST IN THE
PLANNING, DESIGN, REPAIR, RENOVATION, REHABILITATION, ALTERATION,
CONVERSION, AND RECONSTRUCTION OF, AND IN THE PROVISION OF CAPITAL
EQUIPMENT FOR, KNOTT SCIENCE CENTER, AND IN THE CONSTRUCTION OF AN
ADDITION TO CONNECT KNOTT SCIENCE CENTER TO DOYLE HALL.

(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 ISSUANCE of the bonds.

(5) (A) The payment of any funds TO CAPITOL COLLEGE under the provisions
of this Act for the purposes set forth in Section 1(3) above, shall be contingent upon the
provision by Capitol College of a sum up to [$2,500,000] $1,500,000 as a matching fund for
this project. No part of an applicant's matching fund may be provided from State funds
either directly or indirectly, in whole or in part. No part of the fund may consist of real
property or in kind contributions. THE FUND MAY CONSIST OF PRIOR EXPENDED
FUNDS FUNDS EXPENDED PRIOR TO JUNE 1, 1991. In case of any dispute as to 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. Capitol College has until June 1,
[19921 1994 [1994] 1996 to present evidence satisfactory to the Board of Public Works of
the sum that it has raised as a matching fund for this purpose. Upon a certification of
suitable evidence from the Board of Public Works on or before June 1, [1992] 1994
[1994] 1996 the proceeds of the loan shall be expended in accordance with the provisions
of this Act. To the extent that satisfactory evidence of the raising of a sum up to
[$2,500,000] $1,500,000 as a matching fund for this project is not presented to the Board
of Public Works on or before June 1, [1992] 1994 [1994] 1996, no funds under the
provisions of this Act shall thereafter be paid over to or expended for the purposes set
forth in Section 1(3) above, and the remaining proceeds of the loan shall be applied to the
purposes authorized in § 8-129 of the State Finance and Procurement Article.

(5) (A) PRIOR TO THE PAYMENT OF ANY FUNDS TO CAPITOL COLLEGE UNDER
THE PROVISIONS OF THIS ACT FOR THE PURPOSES SET FORTH IN SECTION 1(3) ABOVE,
CAPITOL COLLEGE SHALL PROVIDE AND EXPEND A MATCHING FUND. NO PART OF AN
APPLICANTS 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 OR IN KIND CONTRIBUTIONS. THE FUND
MAY CONSIST OF FUNDS EXPENDED PRIOR TO JUNE 1, 1994. 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. CAPITOL COLLEGE HAS UNTIL JUNE 1, 1996, TO

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