(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 in kind contributions. The
matching fund may consist of real property or 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,
2001, 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.

(6) No portion of the proceeds of the loan or any of the matching funds may be
used for the furtherance of sectarian religious instruction, or in connection with the
design, acquisition, or construction of any building used or to be used as a place of
sectarian religious worship or instruction, or in connection with any program or
department of divinity for any religious denomination. Upon the request of the Board
of Public Works, the grantee shall submit evidence satisfactory to the Board that none
of the proceeds of the loan or any matching funds have been or are being used for a
purpose prohibited by this Act.

SECTION 2, AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1999.

Approved April 27, 1999.

CHAPTER 183
(Senate Bill 500)

AN ACT concerning

Montgomery County - Maryland College of Art and Design Loan of 1997

FOR the purpose of amending Chapter 284 of the Acts of the General Assembly of
1997, the Montgomery County - Maryland College of Art and Design Loan of
1997, to extend the time by which the Maryland College of Art and Design shall
present certain evidence of a matching fund to the Board of Public Works.