HARRY HUGHES, Governor

2181

There has been established a program to finance the
acquisition of land and the development of that land by the State
and its subdivisions for outdoor public recreational and open
space purposes, this program being known as "Program Open Space".

Chapter 403 of the Acts of 1969 (the "Act") authorized and
directed the Board of Public Works to issue a State loan to be
known as the "Outdoor Recreation Land Loan of 1969" in the
aggregate amount of $60,000,000, the net actual cash proceeds of
which are to be expended to fund Program Open Space.

Chapter 353 of the Acts of 1972 amended the Act to authorize
and direct the Board of Public Works to increase the total
amount of funds which the State of Maryland is authorized to
borrow under the "Outdoor Recreation Land Loan of 1969" to the
aggregate amount of $70,000,000, the net actual cash proceeds of
which are to be expended to fund Program Open Space.

Chapter 632 of the Acts of 1974 amended the Act to authorize
and direct the Board of Public Works to increase the total amount
of funds which the State of Maryland is authorized to borrow
under the "Outdoor Recreation Land Loan of 1969" to the aggregate
amount of $82,000,000, the net actual cash proceeds of which are
to be expended to fund Program Open Space.

Chapter 564 of the Acts of 1975 amended the Act to authorize
and direct the Board of Public Works to increase the total
amount of funds which the State of Maryland is authorized to
borrow under the "Outdoor Recreation Land Loan of 1969" to the
aggregate amount of $88,000,000, the net actual cash proceeds of
which are to be expended to fund Program Open Space.

To date only $20,000,000 of the bonds authorized to fund
Program Open Space has been issued.

By the end of fiscal year 1984, expenditures for State and
local projects under Program Open Space have exceeded revenues by
approximately $13,000,000.

Expenditures for State and local projects under Program Open
Space are anticipated to continue at a level which can be met
from proceeds of the State Property Transfer Tax.

The General Assembly wishes to reduce authorizations to
borrow by the State of Maryland which are no longer necessary.

Pursuant to the policy that unnecessary authorizations to
borrow should be repealed:

(a) The General Assembly, by Chapter 563 of 1979,
reduced the total authorization to borrow for Program Open Space
from $88,000,000 to $56,000,000, thereby leaving an outstanding
aggregate loan authorization of $36,000,000; and