|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
CHAPTER 81
|
|
Ch. 81
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Senate Bill 634)
AN ACT concerning
Garrett County - Garrett Information Enterprise Center Loan of 1998
FOR the purpose of amending Chapter 310 of the Acts of the General Assembly of
1998, the Garrett Information Enterprise Center Loan of 1998, to extend the
date by which the grantee must provide and expend a matching fund from June
1, 2000 to June 1, 2002.
BY repealing and reenacting, with amendments,
Chapter 310 of the Acts of the General Assembly of 1998
Section 1
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Chapter 310 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 Garrett
Information Enterprise Center Loan of 1998 in a total principal amount equal to the
lesser of (i) $250,000 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 County Commissioners of Garrett
County (referred to hereafter in this Act as "the grantee") for the planning, design,
construction, and capital equipping and furnishing of the Garrett Information
Enterprise Center on the campus of Garrett Community College, to be used as a
technical and administrative support facility for businesses that locate in Garrett
County.
|
|
|
|
|
|
|
|
|
|
- 659 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
