HARRY HUGHES, Governor

1241

(e) The date of the bonds issued at any particular
time, and within the limits prescribed by Article III,
Section 34 of the Constitution of Maryland, the payment
dates of said bonds.

The resolution authorizing the issuance of said loan or
any portion thereof shall set forth in detail the dates when
any of the bonds representing said loan or any portion
thereof are to be paid and the amount to be paid upon such
dates, respectively. The bonds issued pursuant to this Act,
their transfer, the interest payable thereon, and any income
derived therefrom, including any profit realized in the sale
or exchange thereof, shall at all times be exempt from
taxation of every kind and nature whatsoever within this
State by the State of Maryland or by any of its political
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, storation, 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 its
successor in interest, of a sum up to $2,000,000 [and the
provision by Baltimore City of a sum up to $1,000,000] as
funds for this project from private and other public
sources. The said Lyric Foundation, Inc., or its successor
in interest shall have until July 1, (1980] 1981, to present
evidence satisfactory to the Board of Public Works of the
sum that it has raised as 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 July 1, [1980] 1981, the
Treasurer of the State is hereby authorized, empowered and
directed to proceed to spend the proceeds of said loan, or
any portion thereof proportionate to the sum raised by the
Lyric Foundation, Inc., or its successor in interest [and
the sum raised by Baltimore City] on a basis of [1/2] 2/3
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
$2,000,000 by the Lyric Foundation, Inc., [and $1,000,000 by
Baltimore City] as a fund for this project is not presented
to the Board of Public Works on or before July 1, [1980]
1981, 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