|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 286 2000 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be
construed only prospectively and may not be applied or interpreted to have any effect
on or application to any case filed cause of action arising before the effective date of
this Act.
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2000.
Approved May 11, 2000.
|
|
|
|
|
|
|
|
|
|
CHAPTER 286
(Senate Bill 544)
AN ACT concerning
Creation of a State Debt - Baltimore City - Grace Outreach Center
FOR the purpose of authorizing the creation of a State Debt not to exceed $200,000
$100,000 $150,000, the proceeds to be used as a grant to the Board of Directors
of Grace Outreach Development Corporation, 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;
providing that no proceeds of a loan or any matching funds may be used 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 - Grace Outreach Center Loan of 2000 in a total principal amount equal to the
lesser of (i) $200,000 $100,000 $150,000 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 Directors of Grace Outreach
|
|
|
|
|
|
|
|
|
|
- 1670 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
