Ch. 209

1997 LAWS OF MARYLAND

WHEREAS, A 1995 Maryland turfgrass survey indicated that the Maryland
turfgrass industry fosters more than $955 million in economic activity in the State of
Maryland; and

WHEREAS, The Maryland Turfgrass Council and the turfgrass industry are very
supportive of the University of Maryland's turfgrass research farm and contribute more
than $150,000 in annual gifts and equipment; and

WHEREAS, The cooperative research at the University's turfgrass research farm
produces technologies that reduce the input of pesticides, labor, irrigation, and other
costly factors necessary to producing turfgrass for commercial, recreational, and home
use; and

WHEREAS, In 1995 the State of Maryland made the decision to close the Great
Oaks Center, and in 1996 the Board of Public Works approved a contract disposing of the
property for redevelopment, as a result of which the University must relocate its turfgrass
research farm; and

WHEREAS, The contract calls for the payment of $2,300,000 of the purchase price
to the University of Maryland System; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That;

(a) (1) In this Act the following words have the meanings indicated.

(2) "Contract" means the purchase and sale agreement by and between the
State of Maryland and Silver Oaks Campus, LLC, dated October 30, 1996, and approved
by the Board of Public Works as agenda item 47-RP on October 30, 1996.

(3) "Endowment" means the endowment funds maintained and managed by
the University of Maryland System pursuant to the provisions of § 12-104(d) of the
Education Article of the Annotated Code of Maryland.

(4) "Turf farm endowment" means a portion of the turf farm proceeds in
the amount of $1,200,000.

(5) "Turf farm proceeds" means proceeds in the amount of $2,300,000 from
the sale of the Great Oaks Center, located in Prince George's and Montgomery Counties,
which, under the contract, are payable to the University of Maryland System.

(b) (1) Notwithstanding any other provision of law, the turf farm proceeds,
under the contract, from the sale of the turfgrass research farm, shall be applied as set
forth in this Act.

(2) The turf farm endowment shall be delivered to the University of
Maryland System and deposited directly into the endowment.

(3) The University of Maryland System shall maintain, manage, invest,
reinvest, and expend the turf farm endowment and investment earnings thereon generally
for the support of the University of Maryland College Park turfgrass research program, in
accordance with the policies and practices generally applicable to the endowment.

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