Ch. 279 LAWS OF MARYLAND

(IV) The discretion of the Commission on the award of all [additional
dates] DAYS OF RACING shall be final, and the award of [all dates] THE DAYS OF
RACING shall constitute a license and not a franchise.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.

Approved May 2, 1990.

CHAPTER 279
(Senate Bill 686)

AN ACT concerning

Creation of a State Debt - Kennedy Institute

FOR the purpose of authorizing the creation of a State Debt in the amount of
$5,000,000 $500,000 $1,000,000 the proceeds to be used as a grant to the
Kennedy Institute in Baltimore City for the renovation of the existing facilities for
the purpose of treating children who have a combined developmental disability
and psychiatric condition, for upgrading the heating, ventilation, air conditioning,
mechanical and electrical systems, and for the construction of a new educational
facility that will accommodate more elementary school children and will provide
space for the education of middle school children, subject to the requirement that
the Kennedy Institute 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 Kennedy
Institute Loan of 1990 in the total principal amount of $5,000,000 $500,000 $1,000,000.
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'

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