PARRIS N. GLENDENING, Governor                             Ch. 241

CHAPTER 241

(House Bill 279)

AN ACT concerning

Creation of a State Debt - Montgomery College—Takoma Park Campus—Classroom and
Laboratory Space County - Takoma Park and Silver Spring Communities - Multiple Use

Facility

FOR the purpose of authorizing the creation of a State Debt not to exceed $1,200,000
$100,000, the proceeds to be used as a grant to Montgomery College the County
Executive and County Council of Montgomery County for certain development or
improvement purposes; providing for disbursement of the loan proceeds, subject to
a requirement that the County Executive and County Council of Montgomery
County grantee provide and expend a matching fund; 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 Montgomery
College—Takoma Park Campus—Classroom and Laboratory Space County - Takoma
Park and Silver Spring Communities - Multiple Use Facility Loan of 1995 in a total
principal amount equal to the lesser of (i) $1,200,000 $100,000 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 Montgomery College for the planning and design of classroom and
laboratory space at the Takoma Park Campus of the College the County Executive and
County Council of Montgomery County (referred to hereafter in this Act as "the
grantee") for a feasibility study for the construction preliminary planning of a multiuse
project, that will contain a cultural and performing arts center, a community assessment
center, a small business development center, and a community health clinic, to serve as a
potential link between Blair Park and the Takoma Park campus of Montgomery College.

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