Ch. 207

1997 LAWS OF MARYLAND

indirectly, from funds of the State, whether appropriated or unappropriated. 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 grantee has until June 1,
1999, 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.

(5) (a) The grantee shall provide and expend a matching fund.

(b) No part of the grantee's matching fund may be provided, either directly
or indirectly, from funds of the State, whether appropriated or unappropriated. 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.

(c) The grantee first shall present evidence to the satisfaction of the Board
of Public Works of the provision and expenditure of the matching fund, and the Board of
Public Works then shall certify this fact and disburse the proceeds of the grant under the
provisions of this Act for the purposes set forth in Section 1(3) above in the manner
described in this Act.

(d) The Board of Public Works shall distribute the proceeds of the loan in
two installments, beginning after June 1, 1997 and ending before June 1, 1999. The first
installment of the proceeds of the loan shall be equal to the lesser of 50 percent of the
total amount of the proceeds of the loan or the amount of the installment of the matching
fund provided by the grantee at that time. The second installment of the proceeds of the
loan shall be equal to the amount of the second installment of the matching fund, except
that the total amount of the proceeds of the loan may not exceed $400,000.

(e) Prior to the payment of each installment of the proceeds of the loan by
the Board of Public Works, the grantee shall present evidence satisfactory to the Board of
Public Works that the installment of the matching fund will be provided. If satisfactory
evidence is presented, the Board shall certify this fact and the amount of the installment
of the matching fund to the State Treasurer, and the proceeds of the loan equal to the
installment of the matching fund shall be expended for the purposes provided in this Act.
After June 1, 2000, any amount of the loan in excess of the amount of the total 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 grantee 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

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