(6) (a) Prior to the issuance of the bonds, the grantee shall grant and convey
to the Maryland Historical Trust a perpetual preservation easement to the extent of
its interest:
(i) On the land or such portion of the land acceptable to the Trust; and
(ii) On the exterior and interior, where appropriate, of the historic
structures.
(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1999.
Approved April 27, 1999.
CHAPTER 160
(Senate Bill 230)
AN ACT concerning
Creation of a State Debt - Montgomery County - Adventist HealthCare
FOR the purpose of authorizing the creation of a State Debt not to exceed $612,000,
the proceeds to be used as a grant to the Board of Directors of Adventist
HealthCare for certain development or improvement purposes; providing for
disbursement of the loan proceeds, subject to a requirement that the grantee
provide and expend a matching fund; prohibiting the use of the proceeds of the
loan or any of the matching fund from use 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 Montgomery
County - Adventist HealthCare Loan of 1999 in a total principal amount equal to the
lesser of (i) $612,000 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.
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