FOR the purpose of authorizing the creation of a State Debt not to exceed $450,000,
the proceeds to be used as a grant to the Board of County Commissioners of
Allegany County 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; requiring the grantee to grant and convey
a certain easement to the Maryland Historical Trust; 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 Allegany
County Agricultural Expo and Fairgrounds Loan of 1999 in a total principal amount
equal to the lesser of (i) $450,000 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 Board of County Commissioners of
Allegany County (referred to hereafter in this Act as "the grantee") for the planning,
design, construction, and capital equipping of the Allegany County fairgrounds of
three connected pavilion buildings that would contain the Allegany County
Agricultural Expo offices, exhibition areas, rest rooms, and showers and a separate
expo building that would contain a year-round activity area with a catering kitchen
and rest rooms that could be used for meetings, conventions, banquets, trade shows,
and similar events.

(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) (a) The grantee shall provide and expend a matching fund.

(b) No part of the grantee's matching fund may be provided, either
directly or indirectly, from funds of the State, whether appropriated or
unappropriated. The No part of the 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