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Session Laws, 1999
Volume 796, Page 2160   View pdf image
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(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 G.R.O.U.P.
Ministries Baltimore, Inc. (referred to hereafter in this Act as "the grantee") for the
repair, renovation, construction, reconstruction, and capital equipping of a building to
house a community outreach center located at 818 Franklintown Road in Baltimore.

(4) An annual State tax is imposed on ail 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 of $65,000. 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 or funds
expended prior to the effective date of this Act. The fund may consist of real property.
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 to the
State .Treasurer, and the proceeds of the loan shall be expended for the purposes
provided in this Act.

(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.

(7) (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

 

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Session Laws, 1999
Volume 796, Page 2160   View pdf image
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