Ch. 93

1996 LAWS OF MARYLAND

CHAPTER 93
(Senate Bill 51)

AN ACT concerning

Creation of a State Debt - Prince George's County - North Brentwood Town Hall and

Museum Project

FOR the purpose of authorizing the creation of a State Debt not to exceed $250,000
$175,000, the proceeds to be used as a grant to the Mayor and Town Council of
North Brentwood for certain acquisition, development, or improvement purposes;
providing for disbursement of the loan proceeds, subject to a requirement
that the Maryland-National Capital Park and Planning Commission 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 Prince George's
County - North Brentwood Town Hall and Museum Project Loan of 1996 in a total
principal amount equal to the lesser of (i) $250,000 $175,000 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 Mayor and Town Council of North Brentwood for the acquisition of a
site and demolition of an existing structure, and for the design, planning, and renovation
of a building that will contain a town office, museum, kitchen, and police office for North
Brentwood, and for associated street work.

(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
issuance of the bonds.

(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 Maryland-National Capital Park and

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