Gov. Marvin Mandel is spending the weekend aboard the state's yacht, the Maryland lady, as part of "recuperation, convalescence and rest" suggested by his physician.

Mandel, his wife Jeanne and MM, their 5-month-old Labrador retreiver, boarded the 118-fpoot yacht at noon at the City Dock here.

While the governor sailed the waters of the Chesapeake Bay, Lt. Gov. Blair Lee III presided for the second time since Mandel's incapacitation at a bill-signing ceremony at the State House.

Lee had been designated "acting governor" for one hour, beginning at 4:30 p.m., for the purpose of signing 134 bills enacted by the legislature that ended earlier this month.

Among bills signed by Lee was the $3.9 million operating budget that was the subject of much debate, but little trimming, byt eh General Assembly. The inability of the legislators to make substantial reductions in the Mandel budget forced the passage of a bill that will increase the state sales tax, effective June 1, from 4 per cent to 5 per cent. That bill was not among measures signed today, however.

Most of the bills signed today were of local or minor significance. Controversial until after traditon veto hearing, to be scheduled sometime net month.

When Mandel was released from Johns Hopkins Hopsital on Wednesday, physicians recommended that the governor spend the next month recuperating from what apparently was a minor stroke.

It is not known what effect that convalesence will have on the scheduled start of Mandel's retrial on political corruption charges, now set to begin May 11 in Federal Court in Baltimore.

The Maryland Lady, a 29-year-old vessel purchased by the state in 1959 at a cost of $155,000, is a favorite hideaway for Mandel, who used it nearly every weekend last summer to sail to a secluded spot on the bay. The Mandels also took the ship to Ocean City for a two-week vacation last summer.