Ch. 614                                    1996 LAWS OF MARYLAND

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 Caroline County
- Town of Greensboro - Community Center Loan of 1996 in the total principal amount of
$400,000 $100.000. 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.

(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 Greensboro and the County Commissioners
of Caroline County (known hereafter in this Act as "the grantees") for the provision of
capital equipment, and furnishings, and associated expenses for the Greensboro
Community Center, to be used by civic and community groups in the Greensboro area of
Caroline County.

(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 grantees shall provide and expend a
matching fund of $200,000 $50,000. No part of the grantees' 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 grantees have 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 to the State Treasurer, and the proceeds of
the loan shall be expended for the purposes provided in this Act.

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

Approved May 23, 1996.

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