BLAIR LEE III, Acting Governor                           2677

subdivisions, municipal corporations, or public agencies of
any kind.

7.

(a)    The payment of any funds under the provisions of
this Act for the purpose of assisting in construction,
renovation, restoration, improvement and equipping the
existing Lyric Theater located in the City of Baltimore,
Maryland, including the acquisition of land and the payment
of architects' and engineers' fees, shall be contingent upon
the provision by the Lyric Foundation, Inc., [or the
University of Baltimore Educational Foundation, Inc., or
both,] or [their] ITS successor [or successors] in interest,
of a sum up to Two Million Five Hundred Thousand Dollars
($2,500,000) $2,000,000 and the provision by Baltimore City
of a sum up to $1,000,000 as an equal and matching fund
funds for this project from private and other public
sources. The said Lyric Foundation, Inc., [or the
University of Baltimore Educational Foundation, Inc.,] or
both, or [their] ITS successor [or successors] in interest
shall have until June July 1, [1978] 1980, to present
evidence satisfactory to the Board of Public Works of the
sum that it has raised as an equal and matching fund funds
for the purpose of assisting in construction, renovation,
restoration, improvement and equipping the existing Lyric
Theater located in the City of Baltimore, Maryland,
including the acquisition of land and the payment of
architects' and engineers' fees. Upon receiving from the
Board of Public Works a certification of such suitable
evidence on or before June 4 July 1, [1978] 1980, the
Treasurer of the State is hereby authorized, empowered and
directed to proceed to spend the proceeds of said loan, or
any portion thereof equal and matching proportionate to the
sum raised by the Lyric Foundation, Inc., [or the University
of Baltimore Educational Foundation, Inc., or both,] or
[their] ITS successor [or successors] in interest and the
sum raised by Baltimore City on a basis of 1/2 State funds
to 1/3 of the funds provided by the Lyric Foundation, Inc.,

to 1/6 of the funds provided by Baltimore City in

accordance with the other provisions of this Act. If such
satisfactory evidence of the raising of a sum up to Two

Million Five Hundred Thousand Dollars ($2,500,000)

$2,000,000 by the Lyric Foundation, Inc., and $1,000,000 by
Baltimore City as an equal and matching a fund for this
project is not presented to the Board of Public Works on or
before June 1 July 1, [1978] 1980, no funds under the
provisions of this Act shall thereafter be paid over to or
expended for the purpose of assisting in construction,
renovation, restoration, improvement and equipping the
existing Lyric Theater located in the City of Baltimore,
Maryland, including the acquisition of land and the payment
of architects' and engineers' fees.

(b)    (1) For the purpose of this section, the value
of bona fide and binding pledges of cash, GUARANTEED LOANS,
and bona fide gifts of real property and/or buildings,
including real property and buildings condemned and donated