Ch. 463                                    LAWS OF MARYLAND

paid in full. The principal shall be discharged within 15 years
after the date of issue of the bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1987.

Approved May 14, 1987.

CHAPTER 463

(House Bill 421)

AN ACT concerning

Creation of a State Debt -
Baltimore County Correctional Facility Loan of 1987

FOR the purpose of authorizing the creation of a State debt in
the amount of $120,000 $130,000 the proceeds to be used as a
grant to the County Executive and County Council of
Baltimore County for detailed planning for an addition to
the Baltimore County Detention Center, subject to the
requirement that the County Executive and County Council of
Baltimore County provide a matching fund of $10,000 for the
same purpose by a certain date; and providing generally for
the issuance 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 Baltimore County Correctional Facility
Loan of 1987 in the total principal amount of $120,000 $130,000.
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,

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