WILLIAM DONALD SCHAEFER, Governor                    Ch. 124

(3) HAS OBTAINED THE APPROVAL OF THE BOARD OF PUBLIC
WORKS OF THE PROPOSED BOND ISSUE AND THE PLAN FOR FINANCING; AND

(4)  HAS SECURED, AS APPROVED BY THE BOARD OF PUBLIC
WORKS, EITHER:

(1) (I) WITH RESPECT TO SITE ACQUISITION AND THE
CONSTRUCTION OF A BASEBALL STADIUM, A LONG-TERM LEASE FOR A MAJOR
LEAGUE PROFESSIONAL BASEBALL TEAM; OR

(2) (II) WITH RESPECT TO SITE ACQUISITION AND THE
CONSTRUCTION OF A FOOTBALL STADIUM, A FRANCHISE FOR A NATIONAL
FOOTBALL LEAGUE TEAM AND A LONG-TERM LEASE.

13-714.1.

BALTIMORE CITY SHALL PAY INTO THE MARYLAND STADIUM AUTHORITY
FINANCING FUND $1 MILLION ANNUALLY BEGINNING IN FISCAL CALENDAR
YEAR 1988 FOR THE PURPOSES OF DEBT SERVICE AND OTHER FORMS OF
OBLIGATION BY THE AUTHORITY.

13-715.

(F) (1) THE FUND SHALL BE INVESTED AND REINVESTED BY THE
TREASURER IN THE SAME MANNER AS STATE FUNDS.

(2) ANY INVESTMENT EARNINGS SHALL BE TRANSFERRED TO
THE CREDIT OF THE FUND.

13-719.

In addition to the duties set forth elsewhere in this
subtitle, the Authority shall:

(1) Keep records as are consistent with sound
business practices and accounting records using generally
accepted accounting principles;

(2) Cause an audit by an independent certified public
accountant to be made of the accounts and transactions of the
Authority at the conclusion of each fiscal year;

(3) Be subject to audit and examination at any
reasonable time of the accounts and transactions of the Authority
by the Division of Audits of the Department of Fiscal Services;

[and]

(4) Submit a detailed annual report of the activities
and financial standing of the Authority to the Governor, and
subject to § 2-1312 of this article, to the General Assembly; AND

(5) SUBMIT A REPORT, PREPARED IN COOPERATION WITH THE
STATE LOTTERY AGENCY, ON THE EFFECT OF THE LOTTERIES CONDUCTED

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