PARRIS N. GLENDENING, Governor

Ch. 138

(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 Learning Bonk of COIL, Inc. (referred to hereafter in this Act as "the
grantee") for the repair, renovation, rehabilitation, and reconstruction of, and for the
provision of capital equipment and furnishings for, a building at West Baltimore Street
and Carrollton Avenue in Baltimore City, to be used as a community-based literacy
center.

(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 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 in kind contributions. The fund may consist of real property 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, 1998, 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.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1996.

Approved April 30, 1996.

CHAPTER 138
(Senate Bill 384)

AN ACT concerning

Creation of a State Debt - Montgomery County - Olney Theatre

FOR the purpose of authorizing the creation of a State Debt not to exceed $400,000
$270,000 $250,000, the proceeds to be used as a grant to the Board of Directors of
the Olney Theatre Center for the Arts, Inc. for certain acquisition, development, or
improvement purposes; providing for disbursement of the loan proceeds, subject to

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