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Ch. 417
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2002 LAWS OF MARYLAND
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purposes of financing site acquisition and preparation, relocation, demolition and
removal, construction and related expenses for construction management,
professional fees, and contingencies of baseball and football stadiums or a multiuse
stadium.
2. To exceed the following limits set forth below, the
Authority shall obtain the authorization of the Board of Public Works and notify the
Legislative Policy Committee with accompanying justification:
A. $85 million in bonds which constitutes tax supported debt
of the State for the purposes of site acquisition and preparation, relocation,
demolition and removal at, and construction and related expenses for construction
management, professional fees, and contingencies for Camden Yards;
B. $70 million in bonds which constitutes tax supported debt
of the State for the purposes of site work, construction and related expenses for
construction management, professional fees, and contingencies of a baseball stadium;
C. $80 million in bonds which constitutes tax supported debt
of the State for the purposes of site work, construction and related expenses for
construction management, professional fees, and contingencies of a football stadium;
and
D. $195 million in bonds which constitutes tax supported
debt of the State for the purposes of the site acquisition and preparation, relocation,
demolition and removal, construction and related expenses for construction
management, professional fees, and contingencies of a multiuse stadium.
(iii) Unless authorized by the General Assembly, the Board of Public
Works may not give approval to an issuance by the Authority of bonds which
constitute tax supported debt of the State for Baltimore Convention Center facilities
if, after issuance, there would be outstanding and unpaid more than $55 million face
amount of such bonds, whether taxable or tax exempt, for the purpose of financing
acquisition, construction, renovation, and related expenses for construction
management, professional fees, and contingencies of Baltimore Convention Center
facilities.
(iv) Unless authorized by the General Assembly, the Board of Public
Works may not give approval to an issuance by the Authority of bonds that constitute
tax supported debt of the State for Ocean City Convention Center facilities if, after
issuance, there would be outstanding and unpaid more than $17,340,000 face amount
of such bonds, whether taxable or tax exempt, for the purpose of financing
acquisition, construction, renovation, and related expenses for construction
management, professional fees, and contingencies of Ocean City Convention Center
facilities.
(v) Unless authorized by the General Assembly, the Board of Public
Works may not give approval to an issuance by the Authority of bonds that constitute
tax supported debt of the State for the Montgomery County Conference Center facility
if, after issuance, there would be outstanding and unpaid more than $23,185,000 face
amount of such bonds, whether taxable or tax exempt, for the purpose of financing
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- 3176 -
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