PARRIS N. GLENDENING, Governor

Ch. 269

(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 fund. No part of the grantee'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 or in kind contributions. The fund may consist of
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
grantee has until June 1, 1999, 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.

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

Approved April 29, 1997.

CHAPTER 269
(House Bill 1041)

AN ACT concerning

Creation of a State Debt - Prince George's County - Town of Fairmount Heights - Sheriff

Road Revitalization Project

FOR the purpose of authorizing the creation of a State Debt not to exceed $934,390
$150,000 $100,000. the proceeds to be used as a grant to the Town of Fairmount
Heights 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 - Town of Fairmount Heights - Sheriff Road Revitalization Project Loan of 1997
in a total principal amount equal to the lesser of (i) $934,390, $150,000  $100,000 or (ii)

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