PARRIS N. GLENDENING, Governor                             Ch. 207

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.

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

Approved May 9, 1995.

CHAPTER 207
(Senate Bill 804)

AN ACT concerning

Creation of a State Debt - Sandy Spring Museum Loan of 1994

FOR the purpose of authorizing the creation of a State Debt not exceed $250,000, the
proceeds to be used as a grant to the Board of Trutees of the Sandy Spring
Museum, 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, amending Chapter 232 of the Acts of the General
Assembly of 1994, the Sandy Spring Museum Loan of 1994, to alter the purposes of
the proceeds of the sale of the bonds to include planning, design, construction, and
equipping of a new museum building.

BY repealing and reenacting, with amendments,

Chapter 232 of the Acts of the General Assembly of 1994
Section 1

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

Chapter 232 of the Acts of 1994

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 Sandy Spring
Museum Loan of 1994 in a total principal amount equal to the lesser of (i) $150,000 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.

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