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PARRIS N. GLENDENING, Governor
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Ch. 570
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a building at 11 West Belair Avenue in Aberdeen, the building to be used as a
museum, for administrative offices, and for the storage of memorabilia.
(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 Mayor and City Council of the City of
Aberdeen shall provide and expend a matching fund of $100,000; and the County
Executive and County Council of Harford County shall provide a matching fund of
$25,000. 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 matching 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, 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 to the State
Treasurer, and the proceeds of the loan shall be expended for the purposes provided in
this Act.
Chapter 158 of the Acts of 1998
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 Harford County - The Ripken [Stadium] MUSEUM Loan of 1998 in a total
principal amount equal to the lesser of (i) $200,000 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 Mayor and City Council of the City
of Aberdeen] THE BOARD OF DIRECTORS OF THE RIPKEN MUSEUM, INC. (referred to
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