WILLIAM DONALD SCHAEFER, Governor                   Ch. 124

(II) THE DEBT SERVICE RESERVE FUND BEING HELD
BY OR ON BEHALF OF THE MARYLAND STADIUM AUTHORITY FOR PAYMENT OF
DEBT SERVICE ON REVENUE BONDS ISSUED BY THE AUTHORITY.

(2) (I) ANY REVENUES TRANSFERRED TO THE STATE RESERVE
FUND IN ACCORDANCE WITH PARAGRAPH (1) OF THIS SUBSECTION SHALL BE
DEDICATED FOR USE BY THE MARYLAND STADIUM AUTHORITY AND MAY BE
TRANSFERRED FROM THE STATE RESERVE FUND BY AN APPROPRIATION IN
THE BUDGET BILL OR, WITH THE APPROVAL OF THE LEGISLATIVE POLICY
COMMITTEE, BY BUDGET AMENDMENT.

(II) THE UNSPENT BALANCE OF ANY REVENUES FOR
THE MARYLAND STADIUM AUTHORITY IN THE STATE RESERVE FUND SHALL
REVERT TO THE GENERAL FUND 2 YEARS AFTER THE END OF THE FISCAL
YEAR IN WHICH THE TRANSFER WAS MADE.

Article - Financial Institutions

13-711.

(b) (1) This State, its agencies, and political
subdivisions may lease, lend, grant, or otherwise convey to the
Authority, at its request, any property, including property
devoted to public use, that is necessary or convenient for the
purposes of this subtitle, subject to the prior approval of the
Board of Public Works.

(2)  SUBJECT TO THE PRIOR APPROVAL OF THE BOARD OF
PUBLIC WORKS, THE STATE MAY LEASE OR SUBLEASE ANY FACILITY FROM
OR TO THE AUTHORITY, WHETHER OR NOT CONSTRUCTED OR USABLE.

(3) LEASE PAYMENTS TO THE MARYLAND STADIUM AUTHORITY
APPROPRIATED BY THE STATE OF MARYLAND SHALL BE TRANSFERRED TO THE
MARYLAND STADIUM AUTHORITY FINANCING FUND.

13-712.

(a) (1) (I) Subject to the prior approval of the Board of
Public Works AND THE PROVISIONS OF SUBPARAGRAPH (II) OF THIS
PARAGRAPH, the Authority may at any time and from time to time
issue bonds for any corporate purpose, including the
establishment of reserves and the payment of interest. In this
subtitle the term "bonds" includes notes of any kind, interim
certificates, refunding bonds, or any other evidence of
obligation.

(II) 1. UNLESS AUTHORIZED BY THE GENERAL
ASSEMBLY, THE BOARD OF PUBLIC WORKS MAY NOT GIVE APPROVAL TO AN
ISSUANCE OF BONDS IF AFTER ISSUANCE THERE WOULD BE OUTSTANDING
AND UNPAID $235 MILLION FACE AMOUNT OF BONDS, WHETHER TAXABLE OR
TAX EXEMPT, FOR THE PURPOSES OF FINANCING SITE ACQUISITION AND
PREPARATION, RELOCATION, DEMOLITION AND REMOVAL, CONSTRUCTION AND
RELATED EXPENSES FOR CONSTRUCTION MANAGEMENT, PROFESSIONAL FEES,

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