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Session Laws, 1987
Volume 769, Page 2101   View pdf image
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WILLIAM DONALD SCHAEFER, Governor Ch. 416

of the planning, design, construction, and equipping of a
facility in Montgomery County for individuals with
developmental disabilities, subject to the requirement that
Centers for the Handicapped, Inc. provide at least an equal
and matching fund of a certain kind for the same purpose by
a certain date; and providing generally for the issue and
sale of bonds evidencing the loan.

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 Centers for the Handicapped, Inc. Loan of
1987 in the total principal amount of $800,000 $700,000. 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 Centers for the Handicapped, Inc.
for the purpose of the planning, design, construction, and
equipping of a facility in Montgomery County for individuals with
developmental disabilities.

(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 issue 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,
Centers for the Handicapped, Inc. shall provide at least an equal
and matching fund of $800,000 $700,000. 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 real
property, in kind contributions, or funds expended prior to the

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Session Laws, 1987
Volume 769, Page 2101   View pdf image
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