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Session Laws, 1999
Volume 796, Page 1926   View pdf image
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the proceeds to be used as a grant to the Board of Directors of the Central
Maryland Heritage League, Inc. 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.

BY repealing and reenacting, with amendments,

Chapter 280 of the Acts of the General Assembly of 1996
Section 1

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

Chapter 280 of the Acts of 1996

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 Frederick
County - Lamar Sanitarium - Historic Museum Loan of 1996 1999 in a total
principal amount equal to the lesser of (i) $100,000 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 §§ 8-11,7 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 Directors of the Central
Maryland Heritage League, Inc. (referred to hereafter in this Act as "the grantee") for
the acquisition, repair, and renovation of a historic building known as Dr. Lamar's
Sanitarium, a facility formerly used for the medical and surgical treatment of
patients, which facility is located in Frederick County and has been designated as a
historic landmark, the facility to be used as a historical museum with associated
offices.

 

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Session Laws, 1999
Volume 796, Page 1926   View pdf image
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