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2000 LAWS OF MARYLAND
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Ch. 610
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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 The Pemberton
Hall Foundation, Inc. (referred to hereafter in this Act as "the grantee") for the repair,
renovation, reconstruction, and capital equipping of Pemberton Hall and associated
facilities on the surrounding plantation land in Wicomico County.
(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 of $125,000. No part of the grantee's matching fund may be provided,
either directly or indirectly, from funds of the State, whether appropriated or
unappropriated. The fund may consist of real property, in kind contributions, 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 to the State Treasurer, and the proceeds of
the loan shall be expended for the purposes provided in this Act.
(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 18, 2000.
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- 3218 -
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