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Session Laws, 1947
Volume 411, Page 1210   View pdf image (33K)
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STATE ROADS COMMISSION— (Continued)

BUDGET FOE THE STATE EOADS COMMISSION OF MARYLAND
FOB THE BIENNIUM 1948-1949

Account

     

Number

Account Title

For the Fiscal Year 1948

For the Fiscal Year 1949

 

receipts of the One-half Cent (1/2c.) Gasoline Tax,

   
 

after refund exemptions, but before the other de-

   
 

ductions as hereinafter provided, there shall be paid

   
 

from the tax each year, provided the State Roads

   
 

Commission shall demand a payment each year, an

   
 

amount equal to the Debt Service cost for each

   
 

. year, in the event that the net toll incomes from

   
 

the operation of the Chesapeake Bay Ferry System

   
 

shall be insufficient for the payment of Debt obliga-

   
 

tions on State Roads Commission of Maryland Che-

   
 

apeake Bay Ferry Revenue Bonds of 1941, author-

   
 

ized and issued in accordance with the provisions

   
 

of Sections 140-A to 140- M, both inclusive, of

   
 

Article 89B of the Annotated Code of Maryland

   
 

(1939 Edition). Then there shall be paid each

   
 

year the Debt Service, both principal and interest

   
 

on Chesapeake Bay Ferry System Improvement

   
 

Bonds, authorized by Sections 140-N to 140-U, both

 

»

 

inclusive, of Article 89B of the Annotated Code of

   
 

Maryland. The amounts named herein are com-

   
 

puted as estimates only, it being the intention

   
 

that these appropriations shall be 100% of the

   
 

revenue aforesaid, and it being further the inten-

   
 

tion that should the proceeds of this tax exceed

   
 

the amounts herein set forth, then such excess

   
 

shall not revert to the General Fund of the State,

   
 

but shal] be set over to the use of the State Roads

   
 

Commission to be applied and administered for

   
 

those purposes and in like manner as the sums

   
 

hereby requested. It is likewise hereby further

   
 

provided that the whole or so much of this fund, as

   
 

may be required, shall be expended by the Commis-

   
 

sion in the relocation of roads for the purpose of

   
 

accomplishing the elimination of grade crossings,

   
 

the reconstructon (and relocation of bridge struc-

   
 

tures and/or the construction) or reconstruction

   
 

of major projects on the State System of Roads,

   
 

and/or the whole or part thereof to be used in the

   
 

equalization of Regular Federal Aid, and to be

   
 

applied and expended in like manner as Regular

   
 

Federal Aid is applied to the State System of Roads

   
 

and Bridges.

   
 

To the State Roads Commission, to be used solely

   
 

as partial contribution of funds in equalization of

   
 

Regular Federal Aid of 1948 ...................

$1,267,801.40

$1,305,923.20



 

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Session Laws, 1947
Volume 411, Page 1210   View pdf image (33K)
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