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Martin O'Malley, Governor
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S.B. 432
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AN ACT concerning
Baltimore County - Arbutus Community Center Loan of 2000
FOR the purpose of extending the deadline by which the County Executive and County
Council of Baltimore County must present evidence to the Board of Public
Works that a matching fund will be provided.
BY repealing and reenacting, without amendments,
Chapter 317 of the Acts of the General Assembly of 2000, as amended by
Chapter 168 of the Acts of the General Assembly of 2002 and Chapter
149 of the Acts of the General Assembly of 2004
Section 1(1)
BY repealing and reenacting, with amendments,
Chapter 317 of the Acts of the General Assembly of 2000, as amended by
Chapter 168 of the Acts of the General Assembly of 2002 and Chapter
149 of the Acts of the General Assembly of 2004
Section 1(5)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Chapter 317 of the Acts of 2000, as amended by Chapter 168 of the Acts of
2002 and Chapter 149 of the Acts of 2004
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 - Arbutus Community Facility 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.
(5) Prior to the payment of any funds under the provisions of this Act for
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
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- 4253 -
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