PARRIS N. GLENDENING, Governor                             Ch. 758

(2) THE PROGRAM PROVIDES FUNDS TO THE STATE, LOCAL
GOVERNMENTS AND LAND TRUSTS TO PURCHASE INTERESTS IN REAL PROPERTY
FROM WILLING SELLERS, INCLUDING EASEMENTS AND FEE ESTATES, FOCUSED IN
DESIGNATED RURAL LEGACY AREAS.

(2) (3) THE PROGRAM SHALL CREATE ENCOURAGE PARTNERSHIPS
AMONG THE FEDERAL STATE, AND LOCAL GOVERNMENTS, AND NONPROFIT LAND
TRUST ORGANIZATIONS AND ENCOURAGE LOCAL LAND CONSERVATION
INITIATIVES.

(3) (4) THE PROGRAM IS ADMINISTERED BY A RURAL LEGACY
BOARD IN THE DEPARTMENT OF NATURAL RESOURCES, AN ADVISORY COMMITTEE,
AND EXISTING STATE STAFF.

(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) PURSUANT TO § 13-209 OF THE TAX - PROPERTY ARTICLE AND §
5-903(A)(2)(III) OF THIS ARTICLE; AND

(2) 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.

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