Ch. 757

1997 LAWS OF MARYLAND

(C)     THE PROGRAM IS FUNDED WITH PROCEEDS FROM THE SALE OF
GENERAL OBLIGATION BONDS AND PURSUANT TO § 13-209 OF THE TAX - PROPERTY
ARTICLE AND § 5-903 OF THE NATURAL RESOURCES ARTICLE:

(1) FUNDS DISTRIBUTED PURSUANT TO § 13-209 OF THE TAX -
PROPERTY ARTICLE AND § 5-903(A)(2)(III) OF THE NATURAL RESOURCES ARTICLE;
AND

(2) THE SALE OF BONDS BY THE PROCEEDS FROM THE SALE OF GENERAL
OBLIGATION BONDS AS PROVIDED IN § 5-9A-09 OF THIS SUBTITLE.

(D)     WHEN NEGOTIATING AND AWARDING GRANTS. THE BOARD SHALL
ENCOURAGE SPONSORS TO UTILIZE ZERO COUPON BONDS IN THE IMPLEMENTATION OF
THE RURAL LEGACY PLAN IN ORDER TO REDUCE THE UTILIZATION OF GENERAL
OBLIGATION BONDS IN FUNDING THE GRANTS.

5-9A-02.

(A)     IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)     "APPLICATION" MEANS AN APPLICATION TO THE RURAL LEGACY BOARD
TO DESIGNATE A RURAL LEGACY AREA

(C)     "BOARD" MEANS THE RURAL LEGACY BOARD.

(D)     "BPW" MEANS THE MARYLAND STATE BOARD OF PUBLIC WORKS.

(E)     "GRANT AGREEMENT" MEANS AN AGREEMENT BETWEEN THE BOARD
AND A SPONSOR TO IMPLEMENT A RURAL LEGACY PLAN IN A DESIGNATED RURAL
LEGACY AREA

(F)     "LAND TRUST' MEANS A QUALIFIED CONSERVATION ORGANIZATION AS
DEFINED IN § 3-2A-01(D) OF THIS ARTICLE. THAT:

(1) IS A QUALIFIED ORGANIZATION UNDER § 170(H)(3) OF THE
INTERNAL REVENUE CODE AND REGULATIONS ADOPTED UNDER § 170(H)(3); AND

(2) HAS EXECUTED A COOPERATIVE AGREEMENT WITH THE
MARYLAND ENVIRONMENTAL TRUST.

(G)     "PROGRAM" MEANS THE RURAL LEGACY PROGRAM ESTABLISHED BY
THIS SUBTITLE.

(H) "RURAL LEGACY AREA" MEANS A REGION WITHIN OR OUTSIDE A
METROPOLITAN AREA DESIGNATED BY THE BOARD AS RICH IN A MULTIPLE OF
AGRICULTURAL, NATURAL, FORESTRY AND CULTURAL RESOURCES.

(I) "RURAL LEGACY PLAN" MEANS A PLAN ACCEPTED BY THE BOARD FOR
ACQUISITION OF EASEMENTS AND FEE INTERESTS IN RURAL LEGACY AREAS.

(J) "SPONSOR" MEANS A LOCAL GOVERNMENT, GROUP OF LOCAL
GOVERNMENTS, OR A LAND TRUST.

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