PARRIS N. GLENDENING, Governor

Ch. 222

(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1997.

Approved April 29, 1997.

CHAPTER 222
(House Bill 238)

AN ACT concerning

Creation of a State Debt - Baltimore City - Great Blacks in Wax Museum

FOR the purpose of authorizing the creation of a State Debt not to exceed 500,000
$375,000 $300,000, the proceeds to be used as a grant to the Board of Directors of
the Great Blacks in Wax Museum, Inc. 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; requiring the
grantee to grant and convey a certain easement to the Maryland Historical Trust;
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 Baltimore City
- Great Blacks in Wax Museum Loan of 1997 in a total principal amount equal to the
lesser of (i) $500,000 $375,000 $300,000 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 Great Blacks in Wax Museum, Inc. (referred
to hereafter in this Act as "the grantee") for the acquisition, repair, renovation,
expansion, reconstruction, and equipping capital equipping of properties in the 1600
block of East North Avenue in Baltimore City, for use as part of the Great Blacks in Wax
Museum and associated facilities.

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