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Martin O'Malley, Governor
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Ch. 488
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CHAPTER 488
(House Bill 51)
AN ACT concerning
Creation of a State Debt - Maryland Consolidated Capital Bond Loan of
2007, and the Maryland Consolidated Capital Bond Loans of 2000, 2001, 2002,
2003, 2004, 2005, and 2006
FOR the purpose of authorizing the creation of a State Debt in the amount of Eight
Hundred Six Million, Seven Hundred Ninety Nine Thousand Dollars
($806,799,000) Eight Hundred Seventeen Million, Three Hundred Seventy Five
Thousand Dollars ($817,375,000) Eight Hundred Twenty Six Million, Seven
Hundred Ninety Nine Thousand Dollars ($826,799,000), the proceeds to be used,
subject to certain restrictions and reporting requirements, for certain necessary
building, construction, demolition, planning, renovation, conversion,
replacement, and capital equipment purchases of this State, for acquiring
certain real estate in connection therewith, and for grants to certain
subdivisions and other organizations for certain development and improvement
purposes, subject to the requirement that certain grantees provide and expend
certain matching funds by certain dates; imposing a certain tax on all assessable
property in the State; stating the intent of the General Assembly that funds be
provided for certain projects for certain fiscal years; requiring the Interagency
Committee on School Construction to make recommendations that allocate
certain funds available for public school construction projects in a certain
manner and to include certain funds in certain allocations; providing certain
allocations made by the Interagency Committee are not subject to approval by
the Board of Public Works; requiring that certain amounts approved for public
school construction projects be allocated to certain counties; requiring that
certain additional funds be provided to certain counties to be expended for
certain public school construction projects subject to certain priority; providing
that certain school construction funds may be applied to certain other projects or
reverted to a certain fund under certain circumstances; authorizing the
Interagency Committee to make recommendations that allocate certain
additional funds in a certain manner after certain notice to the presiding
officers of the General Assembly; providing generally for the issuance and sale of
bonds evidencing the loans; making a technical correction to a prior capital
budget; authorizing certain unexpended appropriations in certain prior capital
budgets and bond loans to be expended for other public projects; altering certain
requirements for certain programs in certain prior capital budgets and bond
loans; providing that the authorizations of State Debt in certain prior capital
budgets and bond loans be reduced by certain amounts; providing for certain
additional information to be detailed about each project in the capital program;
repealing a requirement for a certain appropriation; providing that certain
authorizations in certain prior capital budgets shall not terminate prior to a
certain date; authorizing the creation of State Debt to be issued in 2008, the
proceeds to be used for the Coppin State University New Physical Education
Complex and Department of Public Safety and Correctional Services Maryland
Correctional Training Center; authorizing work to commence on certain projects
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