Ch. 432                                    2004 LAWS OF MARYLAND

(2)     Student Services Building at St. Mary's College

(3)     Academic Building at St. Mary's College

(4) NEW COLLEGE OF LIBERAL ARTS COMPLEX AT TOWSON
UNIVERSITY.

SECTION 12. AND BE IT FURTHER ENACTED, That:

(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:

(L) Boys and Girls Club. Provide a grant equal to the lesser of (i)
$140,000 or (ii) the amount of the matching fund provided, to the
Board of Directors of the Boys and Girls Club of Harford
County, Inc. for the repair of the Aberdeen Boys and Girls Club
and the design, CONSTRUCTION REPAIR, RENOVATION,
AND CAPITAL EQUIPPING of a new Havre de Grace Boys and
Girls Club (Harford County)..........................................................              140,000

(5) Prior to the payment of any matching grant funds under the
provisions of Section 12(3) of this Act, the grantees shall provide and expend matching
funds as specified in Section 12(3). 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[,] OR in kind
contributions[, or]. THE FUND MAY CONSIST OF 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, 2006, 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 13. AND BE IT FURTHER ENACTED, 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 Legislative
Community Initiatives Loan of 2004 in the total principal amount of $17,700,000.
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.

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