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LAWS OF MARYLAND

Ch. 145

SECTION 3 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1984.

Approved May 8, 1984.

CHAPTER 146

(Senate Bill 978)

AN ACT concerning

The Lyric Loan of 1983

FOR the purpose of amending a provision of The Lyric Loan Act of
1983, relating to the nature of the contents of the matching
fund the Lyric Foundation is required to provide under the
1983 loan act, in order to provide that the matching fund
may consist of funds acquired but not applied as matching
funds for previous grants to the Lyric Foundation; and
providing that this Act is an emergency measure.

BY repealing and reenacting, with amendments,

Chapter 325 of the Acts of the General Assembly of 1983
Section 1

Preamble

The 1983 General Assembly considered and passed into law
Senate Bill 313, which became Chapter 325, creating a State debt
in the amount of $1,000,000, known as The Lyric Loan Act of 1983.
The actual cash proceeds of the sale of bonds authorized by
Chapter 325 are to be used as a grant to the Lyric Foundation,
Inc. to assist in the continuation of the modernization of The
Lyric in Baltimore City. As a condition to the payment of the
proceeds of the bond sale, the Lyric Foundation, Inc. is required
to provide at least an equal and matching fund of $1,000,000, no
part of which may consist of real property, in kind
contributions, or funds expended prior to June 1, 1983.

However, an exception to this prohibition with respect to
the nature of the contents of the matching fund was inadvertently
omitted in Chapter 325. It is the intent of the General Assembly
to amend Chapter 325 of 1983 in order to restore the
inadvertently omitted language for the purpose of exempting from
the prohibition on the contents of the matching fund required by
Chapter 325 funds acquired by the Lyric Foundation but not
applied as matching funds for previous grants to the Foundation;
now, therefore,