Ch. 260

1994 LAWS OF MARYLAND

the books of the Comptroller and expended, on approval by the Board of Public Works,
for the following public purposes, including any applicable architects' and engineers' fees:
as a grant to the Board of Trustees of Center Stage Associates, Inc. for the acquisition
and renovation of the Sun Papers Building located at the corner of North Calvert Street
and East Read Street in Baltimore City to provide intern housing, a carriage house for
additional artist housing, and storage areas, and for the renovation of the building at 700
North Calvert Street and artist housing located in the 800 block of North Calvert Street
and to provide handicapped access in compliance with the Americans with Disabilities
Act.                                                                                     

(4) An annual State, tax is imposed on all assessable property in the State in rate
and amount sufficient to pay the principal of and interest on the bonds as and when due
and until paid in full. The principal shall be discharged within 15 years after the date of
issuance of the bonds.

(5) Prior to the payment of any funds under the provisions of this Act for the
purposes set forth in Section 1(3) above, the Board of Trustees of Center Stage
Associates, Inc. shall provide and expend a matching fund. No part of an applicant's
matching fund may be provided, either directly or indirectly, from funds of the State,
whether appropriated or unappropriated. No part of the fund may consist of real
property, in kind contributions, or funds expended prior to the effective date of this Act.
In case of any dispute as to the amount of the matching fund or what money or assets may
qualify as matching funds, the Board of Public Works shall determine the matter and the
Board's decision is final. The Board of Trustees of Center Stage Associates, Inc. has until
June 1, 1996, to present evidence satisfactory to the Board of Public Works that a
matching fund will be provided. If satisfactory evidence is presented, the Board shall
certify this fact and the amount of the matching fund to the State Treasurer, and the
proceeds of the loan equal to the amount of the matching fund shall be expended for the
purposes provided in this Act. Any amount of the loan in excess of the amount of the
matching fund certified by the Board of Public Works shall be canceled and be of no
further effect.

(6) (a) Prior to the issuance of the bonds, the Board of Trustees of Center Stage
Associates, Inc. shall grant and convey to the Maryland Historical Trust a perpetual
preservation easement to the extent of its interest:

(i) On the land or such portion of the land acceptable to the Trust;
and

(ii) On the exterior and interior, where appropriate, of the historic
structures.

(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1994.

Approved May 2, 1994.                                                                                                     

- 1736 -