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Ch. 422 LAWS OF MARYLAND
implementation of this Act, including the amount and type of
loans issued under the Community Energy Loan Program, the local
jurisdictions and nonprofit organizations applying for such
loans, the cost of administering the Program, and the available
reserves in the Program.
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1989.
Approved May 19, 1989.
CHAPTER 422
(House Bill 533)
AN ACT concerning
Maryland Historical Trust -
Historic Preservation Loan and Grant Programs
FOR the purpose of reorganizing, modifying, and expanding the
provisions of the Maryland Historical Trust's Capital
Revolving Fund for Historic Preservation and the Capital
Grant Fund for Historic Preservation; providing for certain
uses of the Funds; establishing the Historic Preservation
Loan Program and Historic Preservation Grant Program;
modifying provisions requiring Board of Public Works
approval of loans and grants and providing, with exceptions,
that expenditures under the Programs are not subject to
certain provisions of the Code; modifying the provisions
relating to interest rates of loans and providing for
preferred rates in certain circumstances; adding provisions
that loans may be secured by mortgage liens or other forms
of collateral and authorizing the Trust to foreclose
mortgages without approval or execution by the Board of
Public Works; requiring the Department of Housing and
Community Development to adopt regulations containing
certain provisions and criteria which the Trust must
consider in recommending approval of loans and grants;
authorizing the Secretary of Housing and Community
Development to allocate emergency reserve funds within the
Grant Fund; modifying the requirement for submission of
annual reports to the Governor and the General Assembly;
establishing certain penalties; and generally relating to
the Maryland Historical Trust's Historic Preservation Loan
and Grant Programs.
BY repealing and reenacting, with amendments,
- 2850 -
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