PARRIS N. GLENDENING, Governor

Ch. 200

CHAPTER 200
(Senate Bill 760)

AN ACT concerning

Creation of a State Debt - Prince George's County - Surratt House Museum - Rowland

Property

FOR the purpose of authorizing the creation of a State Debt not to exceed $50,000' the
proceeds to be used as a grant to the Surratt Society in Clinton, Maryland
Maryland-National Capital Park and Planning Commission 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.

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 Prince George's
County - Surratt House Museum - Rowland Property Loan of 1997 in a total principal
amount equal to the lesser of (i) $50,000 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 Surratt Society in Clinton, Maryland Maryland-National Capital Park
and Planning Commission (referred to hereafter in this Act as "the grantee") for the
planning, design, repair, and renovation of, and for the provision of capital equipment
for, the Rowland property, to be used for part of the program of the Surratt House
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 grantee shall provide and expend a matching

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