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ROBERT L. EHRLICH, JR., Governor
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Ch. 445
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(b) It is further provided that when an equal and matching fund is
specified in Section 1(3), Items ZA00 through ZB02 above, grantees shall provide a
matching fund equal to the lesser of (i) the authorized amount of the State grant or
(ii) the amount of the matching fund certified by the Board of Public Works. If
satisfactory evidence is presented, the Board shall certify this fact and the amount of
the matching fund to the State Treasurer and the proceeds of the loan equal to the
amount of the matching fund shall be expended for the purposes provided in this Act.
If this evidence is not presented by June 1, 2007, the proceeds of the loan shall be
applied to the purposes authorized in Section 8-129 of the State Finance and
Procurement Article. The proceeds of any amount of the loan in excess of the
matching fund certified by the Board of Public Works shall also be applied to the
purposes authorized in Section 8-129 of the State Finance and Procurement Article.
(6) When an historical easement is specified in Section 1(3) of this Act:
(a) Prior to the issuance of the bonds, the grantee shall grant and convey
to the Maryland Historical Trust a perpetual preservation easement to the extent of
its interest:
(i) On the land or such portion of the land acceptable to the Trust;
and
(ii) On the exterior and interior, where appropriate, of the historic
structures.
(b) If the grantee or beneficiary of the grant holds a lease on the land
and structures, the Trust may accept an easement on the leasehold interest.
(c) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust and
any liens or encumbrances against the land or the structures must be acceptable to
the Trust.
(6) (7) The proceeds of the loan must be expended or encumbered by the
Board of Public Works for the purposes provided in this Act no later than June 1,
2012. If any funds authorized by this Act remain unexpended or unencumbered after
June 1, 2012, the amount of the unexpended or unencumbered authorization shall be
canceled and be of no further force and effect. If bonds have been issued for the loan,
the amount of unexpended or unencumbered bond proceeds shall be disposed of as
provided in Section 8-129 of the State Finance and Procurement Article.
(8) Multiple grants provided to the same organization in this Section are in
addition to one another. Unless otherwise provided, any matching fund requirements
apply to each individual grant.
SECTION 2. AND BE IT FURTHER ENACTED, That:
(a) With respect to any parkins facility financed using any combination of
cash, revenue bonds, or other debt and constructed on the State property bounded by
Rowe Boulevard / Bladen Street, Calvert Street, St. Johns Street, and Bloomsbury
Square in Annapolis or any other location within 1,320 feet of the boundaries of that
property:
- 2499 -
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