Ch. 291                                    1996 LAWS OF MARYLAND

(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 real property 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 291
(House Bill 1026)

AN ACT concerning

Creation of a State Debt - Baltimore City - "Children Child First" After School Programs

Facilities

FOR the purpose of authorizing the creation of a State Debt in the amount of $2,000,000
$500,000 $400,000, the proceeds to be used as a grant to the Mayor and City Council
of Baltimore "Child First" Authority for certain acquisition, development, or
improvement purposes; providing for disbursement of the loan proceeds; 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 City
- "Children Child First" After School Programs Facilities Loan of 1996 in the total
principal amount of $2,000,000 $500,000 $400,000. This loan shall be evidenced by the
issuance, sale, and delivery of State general obligation bonds authorized by a resolution of

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