Ch. 149

1995 LAWS OF MARYLAND .

Chapter 490 of the Acts of 1993

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1993. [It shall remain effective for a period of 2 6 years and, at the end of
September 30, 1995 September 30, 1999, with no further action required by the General
Assembly, this Act shall be abrogated and of no further force and effect.]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.

Approved May 9, 1995.

CHAPTER 149
(Senate Bill 238)

AN ACT concerning

Creation of a State Debt - St. Vincent's Center for Children

FOR the purpose of authorizing the creation of a State Debt not to exceed $760,000
$600,000, the proceeds to be used as a grant to Associated Catholic Charities, Inc.
for certain development or improvement purposes; providing for disbursement of
the loan proceeds, subject to a requirement that the grantee provide and expend a
matching fund; providing that no proceeds of a loan or any matching funds may be
used for religious purposes; 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 St. Vincent's
Center for Children Loan of 1995 in a total principal amount equal to the lesser of (i)
$760,000 $600,000 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 Associated Catholic Charities, Inc. (referred to hereafter in this Act as "the

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