mission to issue additional State Highway Construction Bonds to the
amount of $330,000,000 par value (subject to certain limitations includ-
ing provision that the maximum principal amount of all State High-
way 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. As of June
30, 1963, State Highway Construction Bonds, Second Issue, of a total
par value of $262,600,000 had been issued against the $330,000,000
authorization, of which $233,800,000 were outstanding. In addition
$24,671,000 of bonds were outstanding of the $100,000,000 issue author-
ized by the 1947 Legislature.

The Commission's fifty percent share of the Gasoline Tax Fund and
the Excise Tax on Issuance of Certificates of Title to Motor Vehicles
are pledged for debt service of State Highway Construction Bonds;
the remainder of such revenues, together with Federal appropriations,
participation in project costs by the counties, and proceeds from the
sale of State Highway Construction Bonds, is available for the con-
struction of highways and bridges. Under certain conditions a sum
not in excess of $8,000,000, authorized by the 1963 Legislature, may
be transferred in any fiscal year from the Construction 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 for maintaining and operating the
State Highway System, and for other maintenance.

Appropriations available to the Commission for the construction
and reconstruction of roads will be supplemented, as required, by pro-
ceeds from the sale of State Highway Construction Bonds to be issued
under the 1963 authorization. The several counties may participate in
the issue of County Highway Construction Bonds as authorized by
Section 211 of Article 89B of the 1957 Code as amended.

Appropriations—1963

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

Bonds $ 19,289,064
Construction of Primary and Secondary Highways—

State System 46,992,633
Maintenance of Highways—State System 12,883,336
Highway Needs Study 100,000
Enforcement of Motor Vehicle Weight-and-Size

Limitations 427,922
County and Municipality Funds 39,132,426

Total $118,826,370

Appropriations—1964

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

Bonds $ 20,766,397
Construction of Primary and Secondary Highways—

State System 61,614,842
Maintenance of Highways—State System 11,300,893
Enforcement of Motor Vehicle Weight-and-Size

Limitations . 450,336
County and Municipality Funds 40,762,176

Total $124,783,644
Staff: 3,823.