PARRIS N. GLENDENING, Governor

Ch. 154

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 Young Audiences of Maryland, Inc. (referred to
hereafter in this Act as "the grantee") for the design, planning, repair, and renovation of,
and for the provision of capital equipment for, the headquarters building of Young
Audiences of Maryland, Inc., located at 927 N. Calvert Street in Baltimore.

(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. The fund
may consist of real property, in kind contributions, 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,
1999, 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, 1997.

Approved April 29, 1997.

CHAPTER 154
(Senate Bill 264)

AN ACT concerning

Creation of a State Debt - Kent County - Town of Chestertown Promenade and

Boardwalk

FOR the purpose of authorizing the creation of a State Debt not to exceed $150,000
$100,000, the proceeds to be used as a grant to the Mayor and Council of the Town
of Chestertown, Maryland 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.

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