Ch. 171

1995 LAWS OF MARYLAND

(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 grantee shall provide and expend a matching
fund. No part of the grantee'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 or in kind contributions. The fund may consist of
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
grantee has until June 1, 1997, 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 of the matching fund shall be expended
for the purposes provided in this Act, Any amount of the loan in excess of the amount of
the matching fund certified by the Board of Public Works shall be canceled' and be of no
further effect.

(6)     No portion of the proceeds of the loan or any of the matching funds may be
used for the furtherance of sectarian religious instruction, or in connection with the
design, acquisition, or construction of any building used or to be used as a place of
sectarian religious worship or instruction, or in connection with any program or
department of divinity for any religious denomination. Upon the request of the Board of
Public Works, the grantee shall submit evidence satisfactory to the Board that none of the
proceeds of the loan or any matching funds has been or is being used for a purpose
prohibited by this Act.

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

Approved May 9, 1995.

CHAPTER 171
(Senate Bill 439)

AN ACT concerning

Creation of a State Debt - National Aquarium in Baltimore

FOR the purpose of authorizing the creation of a State Debt not to exceed $2,000,000
$1,000,000, the proceeds to be used as a grant to the Board of Directors of the
National Aquarium in Baltimore, 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; and providing generally for
the issuance and sale of bonds evidencing the loan.

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