3174                                 LAWS OF MARYLAND                               Ch. 870

STATE THE UNPAID BALANCE OF THE BOND INDEBTEDNESS.

5-307.

(A)  NOTWITHSTANDING THE PROVISIONS OF ARTICLE 78A,
SECTION 15 OF THE CODE, THIS STATE MAY NOT REQUIRE
REIMBURSEMENT OF DEBT SERVICE FROM A COUNTY FOR A SCHOOL
THAT:

(1)  WAS INITIALLY CONSTRUCTED ON OR BEFORE
FEBRUARY 1, 1971;

(2)  IS NO LONGER USED FOR SCHOOL PURPOSES;

(3)  HAS HAD TITLE TRANSFERRED TO A COUNTY
GOVERNMENT; AND

(4)  IS BEING USED FOR LOCAL GOVERNMENTAL
PURPOSES BY THE STATE OR A COUNTY OR BY ANY INSTRUMENTALITY
OF THE STATE OR A COUNTY OTHER THAN PUBLIC EDUCATION.
HOWEVER, OTHER THAN PUBLIC EDUCATION; PROVIDED, HOWEVER,
THAT IF A FORMER SCHOOL BUILDING IS SOLD BY A COUNTY
GOVERNMENT THE STATE SHALL BE REIMBURSED FOR OUTSTANDING
DEBT SERVICE, AND IF MORE THAN 10 PERCENT OF USABLE SPACE
WITHIN A FORMER SCHOOL IS RENTED FOR AN AMOUNT EXCEEDING THE
COST OF OPERATING AND MAINTAINING SUCH SPACE, SUCH RENTAL
PROFIT SHALL BE USED TOWARD RETIRING OUTSTANDING BONDED
INDEBTEDNESS.

(B)  THIS STATE SHALL REQUIRE REIMBURSEMENT OF DEBT
SERVICE FROM A COUNTY FOR A SCHOOL THAT:

(1)  WAS CONSTRUCTED UNDER THIS SUBTITLE;

(2)  WAS INITIALLY CONSTRUCTED OR SUBSTANTIALLY
RENOVATED AFTER FEBRUARY 1, 1971;

(3)  IS NO LONGER USED FOR SCHOOL PURPOSES;

(4)  HAS HAD TITLE TRANSFERRED TO A COUNTY
GOVERNMENT; AND

(5)  IS BEING USED FOR LOCAL GOVERNMENTAL
PURPOSES BY THE STATE OR A COUNTY OR BY ANY INSTRUMENTALITY
OF THE STATE OR A COUNTY OTHER THAN PUBLIC EDUCATION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 27, 1980.

CHAPTER 871