Ch. 447

1994 LAWS OF MARYLAND'

(iii) $15,000,000 for St. Mary's College of Maryland; and

(iv) $15,000,000 for Baltimore City Community College.

(2)     Bonds outstanding do riot include:

(i) Bonds previously issued by a system or any predecessor that are to
be refunded, but only:

1.        To the extent of any outstanding principal on the bonds that
are being refunded; and

2.        If an escrow or other similar arrangement has been made and
held by the State Treasurer, a bank, or a trust company for the payment of such bonds,
whether or not redeemed; or

(ii) Borrowings pursuant to Section 12-105(e) of this article, except to
the extent that such borrowings are subject to a financing agreement the term of which is
for more than 5 years for the acquisition of the personal property.

(3)      Notwithstanding any other provision in this subsection, the Baltimore
City Community College may issue bonds only for the purpose of financing auxiliary
facilities.

SECTION 2. AND BE IT FURTHER ENACTED, That:

(1) The following academic facilities for the University of Maryland System are
hereby approved and the University of Maryland System may issue, sell, and deliver bonds
in accordance with Title 19 of the Education Article of the Code, as amended by this Act,
in the total principal amount of $39,629,000 $45,981,000 $41,712,260 for the purposes of
financing or refinancing the costs specified for the following academic facilities:

(A)    University of Maryland at Baltimore:
(Baltimore City)

(I)      Design and Construct Health Sciences Library............$26,625,000

....................................................................................................................  ........$25,815,000

...............................................................................................................................$25,485,384

(II)    Purchase capital equipment for Phase I of the Health Sciences
Facility...................................................................................................................$3,250,000

(B)     University of Maryland College Park:
(Prince George's County)

(I) Design Maryland Center for the Performing Arts..........$4,439,000

(C)     Salisbury State University:
(Wicomico County)

(I) Renovate Halloway HOLLOWAY Hall ........................$8,565,000.

................................................................................................$8,537,876,

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