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Ch. 256 2000 LAWS OF MARYLAND
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SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2000.
Approved May 11, 2000.
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CHAPTER 256
(Senate Bill 304)
AN ACT concerning
Creation of a State Debt - Baltimore City - Greektown Plateia
FOR the purpose of authorizing the creation of a State Debt not to exceed $800,000
$500,000 $400,000, the proceeds to be used as a grant to the Board of Trustees of
St. Nicholas Greek Orthodox Church, 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;
prohibiting the use of the proceeds of the loan or any of the matching fund for
religious purposes; 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 Baltimore
City - Greektown Plateia Loan of 2000 in a total principal amount equal to the lesser
of (i) $800,000 $500,000 $400,000 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 Trustees of St. Nicholas
Greek Orthodox Church, Inc. (referred to hereafter in this Act as "the grantee") for
the planning, design, construction, and capital equipping of a social and cultural
center for the promotion of the Greek American community, to be known as the
Greektown Plateia, to be located at 701-703 Ponca Street, Baltimore, Maryland
21224.
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