ROBERT L. EHRLICH, JR., Governor

Ch. 133

BY repealing and reenacting, with amendments,

Chapter 611 of the Acts of the General Assembly of 1993, as amended by
Chapter 208 of the Acts of the General Assembly of 2002

Section 1

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 611 of the Acts of 1993, as amended by Chapter 208 of the Acts of

2002

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 Kensington
Community Center Loan of 1993 in a total principal amount equal to the lesser of (i)
$150,000 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 Mayor and Town Council of the Town
of Kensington for the repair, renovation, rehabilitation, reconstruction, and equipping
of the Kensington Community Center.

(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 Mayor and Town Council of the Town of
Kensington shall provide and expend a matching fund. No part of an applicant'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 in kind
contributions or funds expended prior to the effective date of this Act. The fund may
consist of real property. 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 Mayor and Town

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