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1510
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Ch. 496
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LAWS OF MARYLAND
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discharged. These agreements may provide that the Colts may
assign the agreements to a successor franchise team of the
National Football League if that team agrees to make full and
regular use of Memorial Stadium until January 1, [1996] 1989.
Provided further that prior to the payment of any funds under the
provisions of the Act for the purposes set forth in Section 1(3)
above, (A) the [Board of Public Works] MAYOR AND CITY COUNCIL OF
BALTIMORE, OR ONE OF ITS AGENCIES, shall enter into [an] A VALID
AND BINDING agreement [of understanding] SATISFACTORY TO THE
STATE OF MARYLAND, ACTING THROUGH THE BOARD OF PUBLIC WORKS, with
the corporation generally known as the Baltimore Orioles or its
successor (the Orioles) that the professional sports team owned
and operated by its will continue to make full and regular use of
Memorial Stadium [for the immediate future] UNTIL AT LEAST
JANUARY 1, 1989, or make full and regular use of a stadium in the
State of Maryland where the team shall be named the "Baltimore
Orioles", AND (B) THE ORIOLES SHALL ENTER INTO AN AGREEMENT WITH
THE STATE OF MARYLAND, ACTING THROUGH THE BOARD OF PUBLIC WORKS,
ACCEPTABLE TO THE BOARD, THAT PROVIDES THAT, IF THE ORIOLES'S TEAM
DOES NOT MAKE FULL AND REGULAR USE OF MEMORIAL STADIUM UNTIL
LEAST JANUARY 1, 1989, THE ORIOLES WILL PAY ANNUALLY TO THE STATE
OF MARYLAND AN AMOUNT EQUAL TO 50 PERCENT OF THE AMOUNT OF THE
OUTSTANDING PRINCIPAL OF AND INTEREST THEN DUE ON THE LOAN, LESS
50 PERCENT OF THE ANNUAL AMOUNT DESCRIBED IN SECTION 1(5) ABOVE,
UNTIL THE PRINCIPAL OF AND INTEREST DUE ON THE LOAN HAS BEEN
DISCHARGED; provided, further, that to the payment of any
funds under the provisions of this Act for the purposes set forth
in Section 1(3) above, the Board of Public Works shall enter into
an agreement of understanding with the Mayor and City Council of
Baltimore that any capital expenditures to Memorial Stadium shall
provide facilities for the handicapped including at a minimum,
reserved parking areas; designated safety ramps, and reserved
seating areas.
(6) (A) PRIOR TO THE PAYMENT OF ANY FUNDS UNDER THE
PROVISIONS OF THIS ACT FOR THE PURPOSES SET FORTH IN SECTION 1(3)
ABOVE, AT LEAST ONE OF THE PROFESSIONAL SPORTS ORGANIZATIONS
NAMED HEREIN SHALL ENTER INTO AGREEMENTS WITH BOTH THE MAYOR AND
CITY COUNCIL OF BALTIMORE, OR ONE OF ITS AGENCIES, AND THE STATE
OF MARYLAND, ACTING THROUGH THE BOARD OF PUBLIC WORKS, NO LATER
THAN MAY 39 1, 1984, IN THE MANNER PROVIDED BY THIS SUBSECTION.
IN THE EVENT THAT SUCH AGREEMENTS ARE REACHED WITH ONLY ONE OF
THESE PROFESSIONAL SPORTS ORGANIZATIONS WITHIN THE TIME AND IN
THE MANNER PROVIDED BY THIS SUBSECTION, THEN THE AMOUNT WHICH MAY
BE PAID FOR THE PURPOSES SET FORTH IN SECTION 1(3) SHALL BE
REDUCED TO $7,500,000.
(B) THE CORPORATION KNOWN GENERALLY AS THE BALTIMORE
COLTS OR ITS SUCCESSOR (THE "COLTS") SHALL ENTER INTO AGREEMENTS
(I) WITH THE MAYOR AND CITY COUNCIL OF BALTIMORE, OR ONE OF ITS
AGENCIES, SATISFACTORY TO THE STATE OF MARYLAND, ACTING THROUGH
THE BOARD OF PUBLIC WORKS, THAT THE PROFESSIONAL SPORTS TEAM
OWNED AND OPERATED BY THE COLTS WILL CONTINUE TO MAKE FULL AND
REGULAR USE OF MEMORIAL STADIUM FOR AT LEAST 6 YEARS, BEGINNING
ON THE DATE OF A FULLY EXECUTED LEASE AGREEMENT, PURSUANT TO THE
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