2130                                          LAWS OF MARYLAND [Ch. 632

on the bonds or Certificates of Indebtedness issued under
the provisions of this Act, he shall certify the amount
of such portion, which shall thereby 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." Any proceeds of
such tax which may for any reason not be expended or
applied as herein provided, shall be transferred to the
Annuity Bond Fund and shall be applied to the debt
service requirements of the State.

SECTION 2. AND BE IT FURTHER ENACTED, That Sections
1 and 2 of Chapter 403 of the Acts of 1969, as Section 1
was amended by Chapter 2 of the Acts of the Special
Session of December 16, 1969, and as Sections 1 and 2
were amended by Chapter 353 of the Acts of 1972 and
amended, without change, by Chapter 481 of the Acts of
1973: and Section 11C of Chapter 403 of the Acts of 1969,
as added by Chapter 730 of the Acts of 1971, and as
amended by Chapter 480 of the Acts of 1972 and Chapter
481 of the Acts of 1973, be and [[it is]] they are hereby
repealed and re-enacted, with amendments, to read as
follows:

Chapter 403

1. That the Board of Public Works is hereby
authorized and directed to issue a State loan to be known
as the "Outdoor Recreation Land Loan of 1969," in the

aggregate amount of [[seventy____million____dollars

($70,000,000)]] [[EIGHTY MILLION DOLLARS ($80,000,000)]]
EIGHTY TWO MILLION DOLLARS ($82,000,000). The
certificates evidencing said loan may be issued all at
one time or, in groups, from time to time, as hereinafter
provided[[,]]. ALL of said certificates evidencing said
loan, or any group thereof, shall be issued according to
what is known as the serial annuity plan so worked out as
to discharge the principal represented by said
certificates within fifteen (15) years from the time of
its issue; provided, however, that it shall not be
necessary to provide for the redemption of any part of
the principal represented by any certificates for the
first two (2) years from the time of the issuance of said
certificates.

The Board of Public Works shall, and is hereby
authorized and empowered to pass a resolution or
resolutions, from time to time, determining and setting
forth:                                                                   

(A) The proportion of the total loan authorized by
this Act which shall be issued at any particular time.