S.B. 830

VETOES

WHEREAS, As a result of this agreement, the federal funds were channeled
through the State; and

WHEREAS, Absent this agreement, the federal funding would have been directly
available to Garrett County and available to satisfy the match for State grants; and

WHEREAS, There never was any intent to preclude use of federal moneys to satisfy
the matching requirements; and

WHEREAS, It is necessary to clarify the application of the law in light of this
agreement; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 414 of the Acts of 1986, as amended by Chapter 467 of the Acts of 1988 and

Chapter 522 of the Acts of 1990

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 Glendale Bridge
Loan of 1986 in the total principal amount of $200,000. 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 Board of County Commissioners of Garrett County for the purpose of
planning, design, and construction of a replacement bridge for the Glendale Bridge over
Deep Creek Lake, including the costs of land acquisition and utility relocation associated
with the Glendale Bridge project.

(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

- 4618 -