Ch. 596

LAWS OF MARYLAND

Section 11N

(As added by Chapter 559 of the Acts of the General Assembly
of 1980)

Section 11P

(As added by Chapter 631 of the Acts of the General Assembly
of 1981)

Preamble

WHEREAS, 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";
and

WHEREAS, Chapter 403 of the Acts of the General Assembly of
1969 (The "Act"), as amended by Chapter 353 of the Acts of the
General Assembly of 1972, Chapter 632 of the Acts of the General
Assembly of 1975, Chapter 563 of the Acts of the General Assembly
of 1979, Chapter 523 of the Acts of the General Assembly of 1981,
and Chapter 625 of the Acts of the General Assembly of 1986,
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 $33,000,000, the net actual cash
proceeds of which are to be expended to fund Program Open Space;
and

WHEREAS, It was the intention of the General Assembly of
Maryland in enacting the Act, that the bonds evidencing the
Outdoor Recreation Land Loan of 1969 would be sold over a period
of years, beginning with fiscal year 1969-1970, and that
appropriation of the net actual cash proceeds realized from the
sale of these bonds would be made annually by laws of the General
Assembly designating the State and local projects to which these
proceeds would be allocated; and

WHEREAS, Chapter 626 of the Acts of the General Assembly of
1972, Chapter 443 of the Acts of the General Assembly of 1977,
and Chapter 303 of the Acts of the General Assembly of 1987
extended the life of Program Open Space, including the period of
time in which the bonds evidencing the Outdoor Recreation Land
Loan of 1969 would be sold; and

WHEREAS, The primary source of debt service for the Outdoor
Recreation Land Loan of 1969 is the State Property Transfer Tax
laid by Section 6 of the Act and imposed pursuant to Section
13-209 of the Tax - Property Article of the Annotated Code of
Maryland, and the secondary source of debt service is the ad
valorem property tax levied and imposed by Section 7 of the Act;
and

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