I

BLAIR LEE III, Acting Governor                        2111

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 41 - Governor - Executive and
Administrative Departments

440.

(d) The following conditions, which shall be included
in the loan agreement, shall apply with respect to any sale
or lease of the project or any part thereof:

(3) [The full purchase price on any sale shall
be payable at time of closing, and, except for any deposit
upon execution of a contract, not in installments to the
subdivision.

(4)] Any lease of the land shall provide for
annual rental payments in amounts at least equal to the
amortization payments required to be made by the
subdivision. A lease may contain an option on the part of
the lessee to purchase the land, provided that (i) the
option price is not less than the minimum price at which the
land could be sold, as set forth in subsection (d)(2)
hereof, excluding any rental payments made or required under
the lease, and (ii) upon the exercise of any such option and
payment of the option price, the required prepayment of the
loan shall be made.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 715

(House Bill 1533)

AN ACT concerning

Prince George's County — Alcoholic Beverages

(BH licenses)

PG 323-78

FOR the purpose of permitting in Prince George's County the
Board of License Commissioners to permit individuals,
partnerships, or corporations to have as many BH
licenses as it considers necessary not more than two BH
licenses; and clarifying language.

BY repealing and reenacting, with amendments,