MARVIN MANDEL, Governor                          881

(b) The tax imposed by this section shall be levied at the rate of
one-half of one per cent (0.5%) of the actual consideration paid for
the conveyance of title and shall be collected by the clerks of the
circuit courts of the counties or the clerk of the Superior Court of
Baltimore City.

(C)  IN THE CASE OF A TRANSFER OF A PERPETUALLY
RENEWABLE GROUND RENT, THE TAX SHALL BE BASED
UPON THE CAPITALIZATION AT 6 PER CENT OF THE AN-
NUAL GROUND RENT, PLUS THE ACTUAL CONSIDERA-
TION, OTHER THAN THE CAPITALIZATION OF THE GROUND
RENT, PAID OR TO BE PAID.

(D)  IN THE CASE OF A LEASE FOR A TERM OF YEARS
ABOVE SEVEN YEARS, NOT PERPETUALLY RENEWABLE,
THE TAX SHALL BE BASED UPON THE CAPITALIZATION
AT 10 PER CENT OF THE AVERAGE ANNUAL RENTAL OVER
THE ENTIRE TERM OF THE LEASE, INCLUDING ANY RE-
NEWAL TERM, PLUS THE ACTUAL CONSIDERATION, OTHER
THAN RENT, PAID OR TO BE PAID. WHERE THE AVERAGE
ANNUAL RENTAL CANNOT BE DETERMINED, THE TAX
SHALL BE BASED UPON A FIGURE ARRIVED AT BY MUL-
TIPLYING THE ASSESSED VALUE OF THE PROPERTY COV-
ERED BY THE LEASE BY TWO.

(c) (E) Payment of the tax imposed by this section shall be evi-
denced by the affixing to or stamping on the instrument of writing
offered for recordation a legend stating that such tax has been paid
and the amount of payment and containing the signature of the Clerk
or an authorized facsimile thereof. Any instrument so executed shall
be prima facie evidence that the tax imposed by this section has been
paid.

(d) (F) The proceeds of the tax imposed by this section shall be
paid to the State Comptroller. The Comptroller shall place all such
monies in a special fund and shall use the same for payment of interest
and principal on the certificates of indebtedness issued under the "Out-
door Recreation Land Loan Act of 1969." If at any time the Comp-
troller has in this fund more money than needed to meet payments
of interest and principal, the excess amount shall be made available
for the funding of projects for the acquisition and development of
recreation land and open space, as provided under "Program Open
Space."

SEC. 11. AND BE IT FURTHER ENACTED, THAT THE
FUNDS APPROPRIATED BY SECTION 5(b) OF THIS ACT
SHALL BE ALLOCATED FOR THE FISCAL YEAR 1970 AS
FOLLOWS:

STATE PARKS

(1)  PATUXENT (HOWARD AND MONTGOMERY
COUNTY): STATE SHARE FOR LAND ACQUI-
SITION (APPROXIMATELY 666 ACRES) .......... 500,000

(2)  SENECA (MONTGOMERY COUNTY): LAND
ACQUISITION (APPROXIMATELY 364 ACRES) 1,000,000