PARRIS N. GLENDENING, Governor

Ch. 289

as a grant to the Town of Hancock (referred to hereafter in this Act as "the grantee") for
the provision of capital equipment for renovation and reconstruction of a community
center, located in the Town Hall.

(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 matching 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 289
(House Bill 1290)

AN ACT concerning

Creation of a State Debt - Montgomery County - Bethesda Academy for of the Performing

Arts

FOR the purpose of authorizing the creation of a State Debt not to exceed $75,000, the
proceeds to be used as a grant to the Board of Directors of the Bethesda Academy
for of the Performing Arts, 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; 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:

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