MARVIN MANDEL, Governor

2823

thereof as may be necessary shall be paid by the
Treasurer of the State upon the warrant of the
Comptroller out of the proceeds of the sale of said bonds
for the payment of the expense of engraving, printing and
other outlays connected with the issue of the loan hereby
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.

SECTION 5. AND BE IT FURTHER ENACTED, That the
actual cash proceeds of the sale of the bonds 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 for the following
purposes, to wit:

(1)    The Comptroller, immediately upon the
sale of and payment for said bonds, first, shall return
to and credit the Treasury for a sum equivalent to the
amount expended under 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 made part of the "Seventeenth Century
Sailing Vessel Loan of 1975" and expended as needed by
the State, upon approval by the Board of Public Works,
and as further provided in this Act, for the purpose of
assisting in financing, [[research, investigation, study,
planning, design, engineering,]] construction and
equipping of a replica of [[the]] a Seventeenth Century
pinnace or bark, similar to the "Dove", which was one of
the sailing vessels that transported Leonard Calvert and
settlers to Maryland on a voyage in 1633—1634.

SECTION 6. AND BE IT FURTHER ENACTED, That all
funds which may be appropriated at any time or from time
to time by the General Assembly in any Annual State
Budget Bill for the payment of principal and interest on
bonds issued pursuant to this Act shall be deposited in
the Annuity Bond Fund by the State Comptroller to be
applied to the payment of principal and interest on bonds
issued pursuant to this Act.

SECTION 7. AND BE IT FURTHER ENACTED, That the
payment of any funds under the provisions of this Act for
the purpose of assisting in financing, [[research,
investigation, study, planning, design, engineering,]]
construction and equipping of a replica of [[the]] a
Seventeenth Century pinnace or bark, similar to the
"Dove", shall be contingent upon the provision by the St.