WILLIAM DONALD SCHAEFER, Governor

Ch. 311

The trustees may request,   and upon request shall receive

from the Attorney General of   the State [of Maryland], all legal

counsel and services necessary   to carry out the purpose of the
Trust.

[Subtitle] PART 3. Historic Funds and Capital Projects.

[5-301.] 5-611.

(a)  The Trust may not dispose of any property transferred
by the State to the Trust or purchased with funds paid by the
State without the approval of the Board of Public Works.

(b)  The Trust may not sell, convey, assign, or lease any
property held by it solely for the purpose of investment.

(c)  Before selling or conveying any real or personal
property listed in or eligible for the Maryland Register of
Historic Properties, the Trust shall:

(1)  Ensure that the proposed disposition provides for
the preservation or enhancement of the property; and

(2)  Give preference to acquisition proposals made by
local governments or capable private nonprofit organizations
qualifying under § 501(c)(3) of the Internal Revenue Code that
provide for:

(i) The use most compatible with the historic
or architectural value of the property; and

(ii) Uses which have greatest opportunity for
public involvement, participation, education, and enjoyment; and

(3)  Provide a 6-month option to purchase to entities
that meet the requirements of paragraph (2) of this subsection,
and that propose to purchase at the State-established appraised
fair market value.

(d)  Unless expressly provided for, a lease made by the
Trust may not be subject to redemption at the option of the
tenant.

[5-302.] 5-612.

(a) A Capital Revolving Fund for Historic Preservation is
created, into which the Comptroller of the Treasury shall place
to the account of the [Maryland Historical] Trust, funds
authorized by statute or budget allocation or otherwise and
intended to implement and encourage restoration and preservation
of historic properties and the purposes set forth in the other
provisions of this subtitle. No loan shall be made under this
section unless the property has been listed in or determined to

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