struction and to aid the Commission in such other matters under its
supervision as it may deem necessary.

Financing the State Roads System

The State Roads Commission administers all funds for the con-
struction, maintenance, and operation of the highway network under
its jurisdiction.

The Legislature of 1947 authorized the issuance of Revenue Bonds
for the purpose of constructing toll bridges, tunnels, and roads. The
selection of the route as a toll road or the project as a toll bridge
must be made in accordance with the specific provisions of the law.

The Legislature of 1947 authorized the issuance of State Highway
Construction Bonds in a total amount of $100,000,000 to supplement
revenues of the Construction Fund in order to meet the requirements
of an expanded road construction program. All of the bonds included
under this authorization were sold by the State Roads Commission
prior to June 30, 1954.

The Legislature of 1953, after consideration of a twelve-year pro-
gram for road construction and reconstruction, authorized the issu-
ance of $330,000,000 par value additional State Highway Construction
Bonds (subject to certain limitations including provision that the
maximum principal amount of all State Highway Construction Bonds
outstanding at any time shall not exceed $300,000,000) for the pur-
pose of financing, in part, the reconstruction of both primary and
secondary roads of the State Highway System and the development
and construction of new roads made mandatory by traffic demands
(Code 1955, supp. Art. 89B, secs. 156, 162A-162G). The first series
of bonds under this authorization were issued in total amount of
$25,000,000 bearing date of September 1, 1954.

Revenues derived by the State Roads Commission representing fifty
percent share of the Gasoline Tax Fund distributions and the Excise
Tax on Issuance of Certificates of Title to Motor Vehicles are pledged
for debt service of State Highway Construction Bonds; any remainder
of such revenues, together with Federal appropriations, contributions
from the counties, and proceeds from the sale of State Highway
Construction Bonds) are available for the construction of highways
and bridges. Under certain conditions a sum not in excess of $2,000,-
000, increased to $3,000,000 by the 1955 Legislature, may be trans-
ferred in any fiscal year from the Construction Fund to the Mainte-
nance Fund, such funds to be used for the maintenance and operation
of the State Highway System.

The State Roads Commission also receives a fifty percent share
of the Motor Vehicle Revenue Fund distributions for paying such
expenses as are not allocable to projects, for maintenance and opera-
tion of the State Highway System, and for other maintenance (Code
1961, Art. 66 1/2, sec. 28; Art. 89B, sec. 26).

Appropriations available to the Commission during the fiscal year
1955 for the construction and reconstruction of roads will be supple-
mented, as required, by proceeds from the sale of State Highway
Construction Bonds to be issued under the 1953 authorization. County
funds will also be augmented to the extent that the several counties
participate in the issuance of County Highway Construction Bonds
as authorized by the 1953 Acts.