ROBERT L. EHRLICH, JR., Governor                             Ch. 279

(III)   THE PROPERTY COVERED BY THE EASEMENT CONTAINS 50
ACRES OR MORE;

(IV)    THE PROPERTY COVERED BY THE EASEMENT CONTAINS ALL OF
THE LAND DESCRIBED IN THE DEED OR DEEDS OF RECORD AT THE TIME OF THE
SALE OF THE EASEMENT;

(V)     THE LANDOWNER WHO ORIGINALLY SOLD THE EASEMENT HAS
NOT EXERCISED THE RIGHT TO 1 ACRE FOR THE CONSTRUCTION OF A DWELLING
HOUSE PURSUANT TO PARAGRAPH (2) OF THIS SUBSECTION;

(VI)    PRIOR TO THE RELEASE, THE LANDOWNER SHALL PAY THE
STATE FOR 1 ACRE AT THE PRICE PER ACRE THAT THE STATE PAID FOR THE
EASEMENT; AND

(VII)  THE PROPERTY IS LOCATED IN CARROLL COUNTY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2003. It shall remain effective for a period of 1 year and, at the end of
September 30, 2004, with no further action required by the General Assembly, this
Act shall be abrogated and of no further force and effect.

Approved May 13, 2003.

CHAPTER 279
(House Bill 157)

AN ACT concerning

Calvert County - Agricultural Land Preservation Program - General
Obligation Installment Purchase Agreements - Maximum Aggregate

Purchase Price

FOR the purpose of authorising and empowering increasing the maximum aggregate
purchase price of general obligation installment purchase agreements that the
County Commissioners of Calvert County, from time to time, are authorized and
empowered to enter into installment purchase agreements for an aggregate
purchase price of not more than $17,800,000, plus interest thereon, to acquire
under certain criteria transfer development rights in tracts or parcels of
agricultural and forestry land located in Calvert County, Maryland, as part of
the County's Agricultural Land Preservation Program; empowering the County
to fix and determine under certain criteria, by resolution, the tracts or parcels of
land the transfer development rights of which are to be acquired and the form,
content, terms and condition of each installment purchase agreement,
including, without limitation, the purchase price payable thereunder, the
maturity date of the installment purchase agreement, the interest rate and the
schedule of payments of the purchase price (or the method of determining such
interest rate and payment schedule) and all other details incident to the
acquisition of the development rights and the installment purchase agreements;

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