Ch. 286

1997 LAWS OF MARYLAND

(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
issue 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 Board of County Commissioners of Garrett:
County shall provide at least an equal and matching fund of $200,000. [No] EXCEPT FOR
FEDERAL FUNDS ASSIGNED TO THE STATE STATE AID IN LIEU OF FEDERAL FUNDS
APPROPRIATED IN CONNECTION WITH THE GLENDALE BRIDGE PROJECT, 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 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
Board of County Commissioners of Garrett County has until June 1, 1992. to present
evidence satisfactory to the Board of Public Works that the matching fund will be
provided. If satisfactory evidence is presented, the Board shall certify this fact to the State
Treasurer and the proceeds of the loan shall be expended for the purposes provided in
this Act. If this evidence is not presented by June 1, 1992, the proceeds of the loan shall
be applied to the purposes authorized in § 8-129 of the State Finance and Procurement
Article.

Chapter 283 of the Acts of 1995

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 Garrett County
- Glendale Bridge Loan of 1995 in a total principal amount equal to the lesser of (i)
$400,000 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 County Commissioners of Garrett County (referred to hereafter in this
Act as "the grantee") for the planning, design, and construction of a replacement bridge
for the Glendale Bridge over Deep Creek Lake in Garrett County, including any land
acquisition and relocation of utilities necessitated by the construction of the new bridge.

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