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HARRY HUGHES, Governor 1511
PROVISIONS OF SECTION 6 1(6) OF THIS ACT; AND (II) WITH THE
STATE OF MARYLAND, ACTING THROUGH THE BOARD OF PUBLIC WORKS,
ACCEPTABLE TO THE BOARD, THAT PROVIDES THAT, IF THE COLTS TEAM OR
ANY SUCCESSOR FRANCHISE TEAM OF THE NATIONAL FOOTBALL LEAGUE DOES
NOT MAKE FULL AND REGULAR USE OF MEMORIAL STADIUM FOR AT LEAST
THE FULL 6 YEAR TERM OF THE AGREEMENT, THEN THE COLTS WILL PAY
ANNUALLY TO THE STATE OF MARYLAND: 1. IF THE AGREEMENTS REQUIRED
BY THIS SUBSECTION ARE NOT REACHED WITH THE BALTIMORE ORIOLES, AN
AMOUNT EQUAL TO THE AMOUNT OF THE OUTSTANDING PRINCIPAL OF AND
THE INTEREST THEN DUE ON THE LOAN, LESS THE ANNUAL AMOUNT
DESCRIBED IN SECTION 1(5) ABOVE, UNTIL THE PRINCIPAL OF AND THE
INTEREST DUE ON THE LOAN HAVE BEEN DISCHARGED; OR 2. IF THE
AGREEMENTS REQUIRED BY THIS SUBSECTION ARE REACHED WITH THE
BALTIMORE ORIOLES, AN AMOUNT EQUAL TO 50% OF THE AMOUNT OF THE
OUTSTANDING PRINCIPAL OF AND THE INTEREST THEN DUE ON THE LOAN,
LESS 50% OF THE ANNUAL AMOUNT DESCRIBED IN SECTION 1(5) ABOVE,
UNTIL THE PRINCIPAL OF AND THE INTEREST DUE ON THE LOAN HAVE BEEN
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 FOR THE TERM PROVIDED BY
AGREEMENT WITH THE MAYOR AND CITY COUNCIL AS REQUIRED BY THIS
SUBSECTION.
(C) THE CORPORATION KNOWN GENERALLY AS THE BALTIMORE
ORIOLES OR ITS SUCCESSOR (THE "ORIOLES") 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 ORIOLES WILL CONTINUE TO
MAKE FULL AND REGULAR USE OF MEMORIAL STADIUM OR OF ANOTHER
STADIUM IN THE STATE OF MARYLAND WHERE THE TEAM SHALL BE NAMED
THE "BALTIMORE ORIOLES" FOR AT LEAST 6 YEARS, BEGINNING ON THE
DATE OF A FULLY EXECUTED LEASE AGREEMENT, PURSUANT TO THE
PROVISIONS OF SECTION 6 1(6) OF THIS ACT AND (II) WITH THE
STATE OF MARYLAND, ACTING THROUGH THE BOARD OF PUBLIC WORKS,
ACCEPTABLE TO THE BOARD, THAT PROVIDES THAT, IF THE ORIOLES TEAM
DOES NOT MAKE FULL AND REGULAR USE OF MEMORIAL STADIUM FOR AT
LEAST THE FULL 6 YEAR TERM OF THE AGREEMENT, THEN THE ORIOLES
WILL PAY ANNUALLY TO THE STATE OF MARYLAND: 1. IF THE AGREEMENTS
REQUIRED BY THIS SUBSECTION ARE NOT REACHED WITH THE BALTIMORE
COLTS, AN AMOUNT EQUAL TO THE AMOUNT OF THE OUTSTANDING PRINCIPAL
OF AND THE INTEREST THEN DUE ON THE LOAN, LESS THE ANNUAL AMOUNT
DESCRIBED IN SECTION 1(5) ABOVE, UNTIL THE PRINCIPAL OF AND THE
INTEREST DUE ON THE LOAN HAVE BEEN DISCHARGED; OR 2. IF THE
AGREEMENTS REQUIRED BY THIS SUBSECTION ARE REACHED WITH THE
BALTIMORE COLTS, AN AMOUNT EQUAL TO 50% OF THE AMOUNT OF THE
OUTSTANDING PRINCIPAL OF AND THE INTEREST THEN DUE ON THE LOAN,
LESS 50% OF THE ANNUAL AMOUNT DESCRIBED IN SECTION 1(5) ABOVE,
UNTIL THE PRINCIPAL OF AND THE INTEREST DUE ON THE LOAN HAVE BEEN
DISCHARGED.
(D) PROVIDED FURTHER, THAT PRIOR 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
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