874                             LAWS OF MARYLAND                     [CH. 403

they shall not be sold at private sale for less than par and accrued
interest.

Sec. 4. And be it further enacted, That the sum of Seventy-Five

Thousand Dollars ($75,000.), or so much thereof as may be neces-

sary, shall be paid by the Treasurer of the State upon the warrant

of the Comptroller out of the proceeds for the sale of said bonds or
Certificates of Indebtedness, for the payment of the expenses of
engraving, printing and other outlays connected with the issue of
the loan here authorized, and for the payment of the advertising
directed by this Act, and all other incidental expenses connected
with the execution of its provisions in connection with said loan

SEC. 4. AND BE IT FURTHER ENACTED, THAT SO
MUCH THEREOF AS MAY BE NECESSARY SHALL BE
PAID BY THE TREASURER OF THE STATE UPON THE
WARRANT OF THE COMPTROLLER OUT OF THE PRO-
CEEDS OF THE SALE OF SAID BONDS OR CERTIFICATES
OF INDEBTEDNESS FOR THE PAYMENT OF THE EX-
PENSE OF ENGRAVING, PRINTING AND OTHER OUTLAYS
CONNECTED WITH THE ISSUE OF THE LOAN HEREBY AU-
THORIZED, AND FOR THE PAYMENT OF THE ADVER-
TISING DIRECTED BY THIS ACT, AND ALL OTHER IN-
CIDENTAL EXPENSES CONNECTED WITH THE EXECU-
TION OF ITS PROVISIONS IN CONNECTION WITH SAID
LOAN.

Sec. 5. And be it further enacted, That the actual cash proceeds
of the Sale of Certificates of Indebtedness to be issued under this
Act shall be paid to the Treasurer of the State upon the warrant of
the Comptroller, and such proceeds shall be used exclusively to fund
a five-year, statewide assistance program designed to make funds
available for the acquisition and development of recreation areas.
The name of this program shall be "Program Open Space." THE
COMPTROLLER. AND SUCH PROCEEDS SHALL BE USED EX-
CLUSIVELY FOR THE FOLLOWING PURPOSES, TO WIT:

1. THE COMPTROLLER SHALL IMMEDIATELY UPON THE
SALE OF AND PAYMENT FOR SAID CERTIFICATES,
FIRST, RETURN TO AND CREDIT THE TREASURY
FOR A SUM EQUIVALENT TO THE AMOUNT EX-
PENDED, AS PROVIDED IN SECTION 4 OF THIS ACT.

2. THE REMAINDER OF THE PROCEEDS OF SUCH LOAN
SHALL BE CREDITED ON THE BOOKS OF THE STATE
COMPTROLLER, TO BE EXPENDED TO FUND A FIVE-
YEAR, STATEWIDE ASSISTANCE PROGRAM DESIGNED
TO MAKE FUNDS AVAILABLE FOR THE ACQUISITION
AND DEVELOPMENT OF RECREATION AREAS. THE
NAME OF THIS PROGRAM SHALL BE "PROGRAM
OPEN SPACE."

(a)    For purposes of this Program, the term "Subdivision" shall
mean counties, municipalities, or any governmental agency thereof,
which is charged with providing OR WHICH CURRENTLY PRO-
VIDES outdoor recreation and open space areas.

(b)    One-half of the fun