Ch. 251

1997 LAWS OF MARYLAND

(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 Central Maryland Chapter of the Afro-American Historical &
Genealogical Society, Inc. for the restoration and preservation of the Ellicott City
Colored School, INCLUDING SITE STABILIZATION AND SITE IMPROVEMENTS.

(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 Central Maryland Chapter of the
Afro-American Historical & Genealogical Society, Inc. shall provide and expend a
matching fund. No part of an applicant's matching fund may be provided, either directly
or indirectly, from funds of the State, whether appropriated or unappropriated. No part
of 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 Central Maryland
Chapter of the Afro-American Historical & Genealogical Society, Inc. has until June 1,
1996, 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.

(6) (a) Prior to the issuance of the bonds, the Central Maryland Chapter of the
Afro-American Historical & Genealogical Society, Inc. shall grant and convey to the
Maryland Historical Trust a perpetual preservation easement to the extent of its interest:

(i) On the land or such portion of the land acceptable to the Trust;

and

(ii) On the exterior and interior, where appropriate, of the historic

structures.

(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.

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