Ch. 172                                    1995 LAWS OF MARYLAND

Approved May 9, 1995.

CHAPTER 172
(Senate Bill 457)

AN ACT concerning .

The Sotterley Plantation Loan of 1993

FOR the purpose of amending Chapter 458 of the Acts of the General Assembly of 1993,
The Sotterley Mansion Loan of 1993, to alter the title of the loan to be The
Sotterley Plantation Loan of 1993 and to grant an extension of the time by which the
matching fund shall be provided.

BY repealing and reenacting, with amendments,

Chapter 458 of the Acts of the General Assembly of 1993
Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 458 of the Acts of 1993

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 Sotterley
[Mansion] PLANTATION Loan of 1993 in a total principal amount equal to the lesser of
(i) $80,000 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 the Board of Trustees of The Sotterley Mansion Foundation, Inc. for the
planning, design, repair, and renovation of The Sotterley [Mansion] PLANTATION,
located in St. Mary's County.

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