H.B. 436

VETOES

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 Executive and County Council
of Anne Arundel County (referred to hereafter in this Act as "the grantee") for the
repair, renovation, rehabilitation, reconstruction, and capital equipping, including
asbestos removal and other improvements to the infrastructure, of the historic Wiley
H. Bates High School, located in Annapolis, for use as a senior center, adult day care
center, gymnasium, community center, and site for specific newly formed small
businesses from within the community.

(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. 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 1,1999, 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.

(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.

(7)      THE GRANTEE HAS UNTIL JUNE 1, 2005, TO EXPEND OR ENCUMBER THE
PROCEEDS OF THE LOAN THE PROCEEDS OF THE LOAN MUST BE ENCUMBERED BY
THE BOARD OF PUBLIC WORKS OR EXPENDED FOR THE PURPOSES PROVIDED IN THIS
ACT NO LATER THAN JUNE 1, 2005.

SECTION 2. AND BE IT FURTHER EN ACTED, That this Act shall take effect
June 1, 2004.

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