Ch. 8 LAWS OF MARYLAND

at least an equal and matching fund of $1, 000, 000. No part of an applicant's matching
fund may be provided, either directly or indirectly, from funds of the State, whether
appropriated or unappropriated. No part of the fund may consist of real property or in
kind contributions. The Fund may consist of funds expended prior to the effective date
of this Act. In case of any dispute as to what money or assets may qualify as matching
funds, the Board of Public Works shall determine the matter, and the Board's decision
is final. The Center Stage Associates, Inc. has until June 1, 1990, to present evidence
satisfactory to the Board of Public Works that the matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify this fact to the State
Treasurer and the proceeds of the loan shall be expended for the purposes provided in
this Act. If this evidence is not presented by June 1, 1990, the proceeds of the loan shall
be applied to the purposes authorized in § 8-129 of the State Finance and Procurement
Article.

(6) The Center Stage Associates, Inc. shall grant and convey a [perpetual]
preservation easement on THE GRANTEE'S LEASEHOLD INTEREST IN the
exterior and interior of the structures, where appropriate, and on THE GRANTEE'S
LEASEHOLD INTEREST IN land to the Maryland Historical Trust in form and
substance acceptable to the Trust.

Chapter 186 of the Acts of 1989

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 Center Stage
Associates, Inc. Loan of 1989 in the total principal amount of $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.

(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'
and engineers' fees: as a grant to the Center Stage Associates, Inc. for the purpose of
the planning, design, construction, reconstruction, renovation, restoration,
rehabilitation, improvement, furnishing, and equipping of Center Stage, the State
Theatre, in Baltimore City, and including the costs of conversion and relocation.

(5) Prior to the payment of any funds under the provisions of this Act for the
purposes set forth in Section 1(3) above, the Center Stage Associates, Inc. shall provide
at least an equal and matching fund of $1, 000, 000. No part of an applicant's matching
fund may be provided, either directly or indirectly, from funds of the State, whether
appropriated or unappropriated. No part of the fund may consist of real property or in
kind contributions. The Fund may consist of funds expended prior to the effective date

- 274 -