PARRIS N. GLENDENING, Governor                          H.B. 1366

(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
issue of the bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, [19...] ... (YEAR).".

(D) (1) IF AN ENABLING ACT REQUIRES AN EQUAL MATCHING FUND, THE
FIFTH PARAGRAPH IS AS FOLLOWS:

"(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, IN KIND CONTRIBUTIONS, OR 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,... (2 YEARS
FROM THE EFFECTIVE DATE OF THE ACT), 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.".

(2) IF AN ENABLING ACT REQUIRES A LESSER MATCHING FUND, THE FIFTH
PARAGRAPH IS AS FOLLOWS:

"(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 OF $ ..., (AMOUNT OF THE MATCHING
FUND TO BE PROVIDED BY THE GRANTEE). 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, IN KIND CONTRIBUTIONS, OR 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,... (2 YEARS
FROM THE EFFECTIVE DATE OF THE ACT), 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 TO
THE STATE TREASURER, AND THE PROCEEDS OF THE LOAN SHALL BE EXPENDED
FOR THE PURPOSES PROVIDED IN THIS ACT.".

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