Ch. 192

1997 LAWS OF MARYLAND

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 192
(Senate Bill 637)

AN ACT concerning

Creation of a State Debt - Harford County - Bel Air Youth Center

FOR the purpose of authorizing the creation of a State Debt not to exceed $100,000, the
proceeds to be used as a grant to the Board of Directors of the Bel-Air Youth
Council, Inc. Board of Town Commissioners of Bel Air for certain planning
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 Harford County
- Bel Air Youth Center Loan of 1997 in a total principal amount equal to the lesser of (i)
Si 00,000 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 Bel Air Youth Council, Inc. Board of Town
Commissioners of Bel Air (referred to hereafter in this Act as "the grantee") for the
planning of the construction of the Bel Air Youth Center, which will serve the youth of
Harford County.

- 1886 -