EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb0735*
HOUSE BILL 735
B5, F2 3lr0113
By: Chair, Appropriations Committee (By Request – Departmental – University
System of Maryland)
Introduced and read first time: February 8, 2023
Assigned to: Appropriations
A BILL ENTITLED
AN ACT concerning 1
University System of Maryland – Academic Facilities Bonding Authority 2
FOR the purpose of approving certain projects for the acquisition, development, and 3
improvement of certain academic facilities for the University System of Maryland; 4
approving the issuance of bonds by the University System of Maryland in a certain 5
total principal amount for financing the projects; providing that the bonds are not a 6
debt or obligation of the State or any of its subdivisions; and generally relating to 7
academic facilities bonding authority of the University System of Maryland and 8
certain projects. 9
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 10
That: 11
(a) In accordance with § 19–102(d) of the Education Article, the following project 12
is approved as a project for an academic facility, and the University System of Maryland 13
may issue, sell, and deliver bonds in the total principal amount of $5,000,000 for the 14
purposes of financing and refinancing the costs of the following project: 15
University of Maryland, College Park (Prince George’s County): 16
Infrastructure Project 17
(b) In accordance with § 19–102(d) of the Education Article, those systemwide 18
capital facilities renewal projects for existing academic facilities of the constituent 19
institutions and centers of the University System of Maryland as authorized by the Board 20
of Regents are hereby approved as facility renewal projects for academic facilities, and the 21
University System of Maryland may issue, sell, and deliver bonds in the total principal 22
amount of $25,000,000 for the purposes of financing and refinancing the costs of those 23
academic facilities renewal projects. 24
2 HOUSE BILL 735
(c) The bonds issued under the authority of this Act do not create or constitute 1
any indebtedness or obligation of the State or of any political subdivision thereof except for 2
the University System of Maryland, and the bonds shall so state on their face. The bonds 3
do not constitute a debt or obligation contracted by the General Assembly of Maryland or 4
pledge the faith and credit of the State within the meaning of Article III, § 34 of the 5
Maryland Constitution. 6
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 7
1, 2023. 8