S.B. 748
VETOES
FOR the purpose of amending Chapter 206 of the Acts of the General Assembly of 1994,
the City of Frederick - National Museum of Civil War Medicine Loan of 1994, to
extend the time by which the Board of Directors of the National Museum of Civil
War Medicine, Inc. shall provide and expend a matching fund.
BY repealing and reenacting, with amendments,
Chapter 206 of the Acts of the General Assembly of 1994
Section 1
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Chapter 206 of the Acts of 1994
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 City of Frederick
- National Museum of Civil War Medicine Loan of 1994 in a total principal amount equal
to the lesser of (i) $1,000,000 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 Board of Directors of the National Museum of Civil War Medicine, Inc.
for the repair, renovation, rehabilitation, and reconstruction of a building in the City of
Frederick for use as the National Museum of Civil War Medicine, and for the provision of
capital equipment and exhibit space for the Museum.
(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 Board of Directors of the National Museum
of Civil War Medicine, Inc. shall provide and expend a matching fund. No part of an
applicant'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 funds expended prior to the effective date of this Act.
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