PARRIS N. GLENDENING, Governor                             Ch. 583

(D)    THE HOMEOWNER OR PROPERTY OWNER MAY ACCEPT THE OFFER
BEFORE THE 30TH CALENDAR DAY FOLLOWING THE TIME SET FORTH IN
SUBSECTIONS (B) AND (C) OF THIS SECTION.

(E)     UNTIL SUCH TIME AS THE COMMISSION CERTIFIES LEGITIMATE NEED
FOR THE RESIDUE, THE HOLDER OF THE LIFE ESTATE MAY CONTINUE TO USE IT AS
IT EXISTED PRIOR TO THE TRANSFER OF TITLE AND THE CREATION OF THE LIFE
ESTATE, ON A LEASE ARRANGEMENT.

24-514.

NOTWITHSTANDING THE PROVISIONS OF TITLE 4, SUBTITLE 4, PART III OF THE
STATE FINANCE AND PROCUREMENT ARTICLE, AND SUBJECT TO THE AVAILABILITY
OF FUNDS AND IN ACCORDANCE WITH OTHER PROVISIONS OF THIS SUBTITLE
REGARDING THE HISTORIC ST. MARY'S CITY COMMISSION, THE COMMISSION MAY
ENTER INTO AGREEMENTS WITH PRESERVATION LAND TRUSTS, FOUNDATIONS,
AND OTHER ENTITIES FOR THE PURPOSE OF ACQUIRING TITLE TO OR AN INTEREST
IN PROPERTY IN HISTORIC ST. MARTS CITY THAT IS OWNED BY SUCH AN ENTITY OR
ON WHICH THE ENTITY HOLDS AN OPTION OR A CONTRACT TO PURCHASE.

24-515.

SUBJECT TO THE APPROVAL OF THE BOARD OF PUBLIC WORKS, THE
COMMISSION MAY RECEIVE AND THE STATE MAY PAY OVER AND TRANSFER TO THE
COMMISSION, FROM TIME TO TIME, PROPERTY HELD IN THE NAME OF THE STATE,
OR ANY OTHER STATE AGENCY TO CARRY OUT THE PURPOSES OF THE
COMMISSION.

PART IV. REVENUE BONDS.

24-516.

(A)    SUBJECT TO THIS PART IV OF THIS SUBTITLE, THE COMMISSION MAY AT
ANY TIME AND FROM TIME TO TIME ISSUE BONDS, BOND ANTICIPATION NOTES, OR
OTHER OBLIGATIONS, (HEREIN REFERRED TO AS "BONDS"), AND MAY USE THE
PROCEEDS OR THE EARNINGS FROM THE INVESTMENT THEREON FOR ANY
AUTHORIZED PURPOSE, INCLUDING THE ESTABLISHMENT OF RESERVES AND THE
PAYMENT OF INTEREST.

(B)    EVERY ISSUANCE OF BONDS SHALL BE MADE PURSUANT TO A
DETERMINATION THAT THE ISSUANCE IS CONSISTENT WITH ONE OR MORE
PURPOSES OF THE COMMISSION. THE DETERMINATION SHALL BE MADE BY THE
CHAIRMAN OF THE COMMISSION. THE DETERMINATION IS EFFECTIVE UPON THAT
APPROVAL, WITHOUT ANY OTHER PROCEEDING, ACTION, OR APPROVAL, AND IN
CONCLUSION OF THE MATTERS DETERMINED THEREIN.

(C) THE COMMISSION SHALL NOTIFY THE TREASURER AND THE

DEPARTMENT OF BUDGET AND MANAGEMENT OF ITS INTENTION TO ISSUES BONDS

UP TO A STATED AMOUNT. NO OTHER APPROVALS, CONSENTS, NOTIFICATIONS,

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