PARRIS N. GLENDENING, Governor
Ch. 210
(4) Any turf farm proceeds, under the contract, from the sale of the
turfgrass research farm that are in excess of the turf farm endowment shall be used by the
University of Maryland System for the planning, engineering, development, construction,
and installation of an experimental turf farm facility and ancillary improvements in
accordance with § 12-105 of the Education Article of the Annotated Code of Maryland.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1997.
Approved April 29, 1997.
CHAPTER 210
(Senate Bill 882)
AN ACT concerning
Creation of a State Debt - Washington County - Memorial Recreation Center
FOR the purpose of authorizing the creation of a State Debt in the amount of $250,000
$225,000 $175,000, the proceeds to be used as a grant to the Board of Directors of
Memorial Recreation Center, Inc. for certain acquisition, development, or
improvement purposes; providing for disbursement of the loan proceeds; 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 Washington
County - Memorial Recreation Center Loan of 1997 in the total principal amount of
$250,000 $225,000 $175,000. 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 Board of Directors of Memorial Recreation Center, Inc. for the repair
and renovation of the infrastructure of the existing Memorial Recreation Center facility,
located in Hagerstown, that is used as an educational and recreation center for children.
- 1943 -
|
|