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H.B. 558
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VETOES
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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
County - [Boys & Girls Clubs of Central Maryland, Inc.] ARBUTUS COMMUNITY
CENTER Loan of 2000 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.
(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 the Boys &
Girls Clubs of Central Maryland, Inc.] THE COUNTY EXECUTIVE AND COUNTY
COUNCIL OF BALTIMORE COUNTY (referred to hereafter in this Act as "the grantee")
for the acquisition, DEMOLITION, renovation, repair, reconstruction, and capital
equipping of an existing building in Arbutus, Baltimore County, [Maryland,] for the
[Boys & Girls Clubs of Central Maryland] ARBUTUS COMMUNITY CENTER.
(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. 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 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] 2004, 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 and
the amount of the matching fund to the State Treasurer, and the proceeds of the loan
equal to the amount of the matching fund shall be expended for the purposes provided
in this Act. Any amount of the loan in excess of the amount of the matching fund
certified by the Board of Public Works shall be canceled and be of no further effect.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2002.
May 16, 2002
The Honorable Casper R. Taylor, Jr.
Speaker of the House
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- 5166 -
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