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Ch. 232
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2000 LAWS OF MARYLAND
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the planning, design, construction, repair, renovation, and capital equipping
(including the upgrading of handicapped-accessibility fixtures) of, and the addition of
an elevator to, the South Baltimore Learning Center, located at 28 East Ostend Street
in Baltimore, Maryland.
(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. The fund may consist of real property. The fund may consist of real
property. No part of the fund may consist of in kind contributions, 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, 2002, 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) (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, 2000.
Approved May 11, 2000.
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- 1496 -
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