and to aid the Commission in such other matters 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 Commission to issue Reve-
nue Bonds for the construction of toll bridges, tunnels, and roads.
The Commission must select routes and projects in accordance with
the specific provisions of the law.

The Legislature of 1947 also authorized the issuance of State High-
way Construction Bonds in a total amount of $100,000,000 to meet the
further requirements of an expanded road construction program. The
State Roads Commission sold all of the bonds included under this
authorization prior to June 30, 1964.

The Legislature of 1953, after consideration of a twelve-year pro-
gram for road construction and reconstruction, authorized the Com-
mission to issue additional State Highway Construction Bonds to the
amount of $330,000,000 par value (subject to certain limitations in.
eluding provision that the maximum principal amount of all State
Highway Construction Bonds outstanding at any time shall not exceed
$300,000,000) to finance, in part, the reconstruction of both primary
and secondary roads of the State Highway System and to develop
and construct new roads made mandatory by traffic demands (Code
1961, 1957 supp., Art. 89B, secs. 156, 162A-162G). As of March 31,
1957, bonds of a total par value of $96,000,000 had been issued.

The Commission's 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 Con-
struction Bonds; any remainder of such revenues, together with
Federal appropriations, contributions from the counties, and proceeds
from the sale of State Highway Construction Bonds, is available for
the construction of highways and bridges. Under certain conditions
a sum not in excess of $3,000,000, increased to $4,000,000 by the 1967
Legislature, may be transferred in any fiscal year from the Construc-
tion Fund to the Maintenance 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 ex-
penses as can not be allocated to projects, for maintaining and operat-
ing 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
1967 for the construction and reconstruction of roads will be sup-
plemented, as required, by proceeds from the sale of State Highway
Construction Bonds to be issued under the 1953 authorization. The
several counties may participate in the issue of County Highway
Construction Bonds as authorized by the 1953 Acts.

Appropriations—195 7

Special Funds (including Federal Aid):
Sinking Fund Provision—State Highway Construction

Bonds .................................................:........ .......$11,218,610
Construction of Primary and Secondary Highways—