PARRIS N. GLENDENING, Governor                              Ch. 212

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

Approved May 9, 1995.

CHAPTER 212
(Senate Bill 829)

AN ACT concerning

Creation of a State Debt - Charles County - Bel Alton High School

FOR the purpose of authorizing the creation of a State Debt in the amount of $2,100,000
not to exceed $50,000, the proceeds to be used as a grant to the Bel Alton High
School Alumni Restoration Committee 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; requiring the grantee to grant
and convey a certain easement to the Maryland Historical Trust; 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 Charles County
- Bel Alton High School Loan of 1995 in the total principal amount of $2,100,000 a total
principal amount equal to the lesser of (i) $50,000 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 Bel Alton High School Alumni Restoration Committee, a public and
private partnership, consisting of alumni of the School, officials in the Charles County
government, community organizations and advocates, and members of the private sector

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