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2917
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MARVIN MANDEL, Governor
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shall have until June 1, 1979 to present evidence
satisfactory to the Board of Public Works, that the fund
will be provided. Upon receiving from the Board of
Public Works on or before June 1, 1979 a certification of
suitable evidence, the Treasurer of the State shall spend
the proceeds of the loan in accordance with the
provisions of this Act. If satisfactory evidence of the
raising of at least an equal and matching fund for this
project is not presented to the Board of Public Works on
or before June 1, 1979, the proceeds of the loan shall be
transferred to the Annuity Bond Fund and applied to the
debt service requirements of the State.
(4) There is hereby levied and imposed an annual
State tax on all assessable property in the State in rate
and amount sufficient to pay the principal of and
interest on the bonds as and when due and until paid in
full, such principal to be discharged within fifteen
years of the date of issue of the bonds.
(5) This Act shall take effect June 1, 1977.
Approved May 26, 1977.
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CHAPTER 726
(Senate Bill 655)
AN ACT concerning
Calvert County — Property Tax Exemption Credit
Calvert County Fairgrounds
FOR the purpose of exempting from granting a tax credit
against Calvert County property taxes for all real
property located at the Calvert County Fairgrounds
in the second election district of Calvert County
and used for the Calvert County Fair; changing the
order of arrangement of certain tax credits in
certain counties; clarifying language; and
presenting certain material for informational
purposes.
BY repealing and reenacting, without amendments,
Article 81 - Revenue and Taxes
Section 9(a)
Annotated Code of Maryland
(1975 Replacement Volume and 1976 Supplement)
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BY adding to
Article 81 - Revenue and Taxes
Section 9(q)
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