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S.B. 388
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Martin O'Malley, Governor
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Sincerely,
Martin O'Malley
Governor
Senate Bill 388
AN ACT concerning
Baltimore County - Todd's Inheritance Loan of 2000
FOR the purpose of extending the deadline by which the County Council and County
Executive of Baltimore County must present evidence to the Board of Public
Works that a matching fund will be provided amending Chapter 409 of the Acts
of 2000 to require that certain loan proceeds be encumbered by the Board of
Public Works or expended for certain purposes by a certain date.
BY repealing and reenacting, without amendments,
Chapter 409 of the Acts of the General Assembly of 2000
Section 1(1) and (5)
BY repealing and reenacting, with amendments,
Chapter 409 of the Acts of the General Assembly of 2000
Section 1(5)
BY adding to
Chapter 409 of the Acts of the General Assembly of 2000
Section 1(6)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Chapter 409 of the Acts of 2000
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 - Todd's Inheritance 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.
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- 4225 -
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