Ch. 378 1997 LAWS OF MARYLAND

[14-911.] 14-907.

Any person who violates any provision of this subtitle is guilty of a misdemeanor and
is subject to the enforcement and penalty provisions set forth in Title 13 of this article.

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

Approved May 8, 1997.

CHAPTER 378
(Senate Bill 640)

AN ACT concerning

Creation of a State Debt - Montgomery County - The Chelsea School

FOR the purpose of authorizing the creation of a State Debt not to exceed $1,500,000
$400,000, the proceeds to be used as a grant to The Chelsea School 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; providing that no proceeds of a loan or any matching funds may be
used for religious purposes; 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 Chelsea School
Loan of 1997 in a total principal amount equal to the lesser of (i) $1,500,000 $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 Chelsea School (referred to hereafter in this Act as "the grantee") for
the acquisition, planning, design, repair, renovation, reconstruction, and construction of,

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