PARRIS N. GLENDENING, Governor                             Ch. 143

(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 or in kind contributions.
The fund may consist of 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 143
(Senate Bill 493)

AN ACT concerning

Creation of a State Debt - Baltimore Neighborhood Recreation Facility

FOR the purpose of authorizing the creation of a State Debt in the amount of $1,200,000
not to exceed $500,000 in the amount of $400,000, the proceeds to be used as a grant
to the Mayor and City Council of Baltimore for certain acquisition, development, or
improvement purposes; providing for disbursement of the loan proceeds, subject to
a requirement that the 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 Baltimore
Neighborhood Recreation Facility Loan of 1996 in the total principal amount of
$1,200,000 a total principal amount equal to the lessor of (i) $500,000 or (ii) the amount
of the matching fund provided in accordance with Section 1(5) below the total principal
amount of $400,000. 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.

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