Account
Number

02

STATE ROADS COMMISSION

TIT b K

LATERAL ROAD CONSTRUCTION (1 1/2c gasoline Tax) :

To the State Roads Commission the proceeds of 100% (less refund
exemptions and less payments of Gas Tax Refunds to Incorporated
Cities and Towns) of the Lateral road Gasoline Tax Funds (1 1/2c)
after deducting 3/8 of that appropriation authorized for maintaining
the Gasoline Tax Department in the office of the State Comptroller,
and after deducting the appropriation to be paid to such company
as shall operate a daily ferry service from Baltimore City to
Tolchester (this appropriation not to exceed $14,000 for each fiscal
year of this budget and to be paid only in the discretion of and
upon the approval of the Board of Public Works), and after de-
ducting from this net revenue a sum representing that proportion
of the total debt service required during the respective years
applicable to Road and Bridge Bonds of the State of Maryland, as
the total revenue derived from the 1 1/2c Gasoline Tax after the
above deductions, but before the Debt Service deductions, bears to
the net revenue produced by all the gasoline taxes, together with
the net revenue produced by the Commissioner of Motor Vehicles
(excluding truck license fees and franchise taxes). The Comp-
troller of the Treasury and the Treasurer of Maryland shall accu
mulate the sum so required for Debt Service from this revenue,
calculated to be $2,043,295.00 for the fiscal year 1938, and
$1,932,052.50 for the fiscal year 1939, by deducting each month
a ratable contribution based on total monthly receipts, and shall
retain the amount so deducted for Debt Service in the Annuity
Bond Fund Account of the State of Maryland, and shall pay the
amount so accumulated on account of Debt Service obligations as
and when this class of obligation falls due during the fiscal years
1938 and 1939. After deducting the respective sum so required
for Debt Service on Road and Bridge Bond Obligations of the
State of Maryland, as hereinbefore provided, there shall then be
deducted a sum representing that proportion of a total sum. not
to exceed $1,804,000 in the fiscal year 1938, and $1,786,000 in
the fiscal year 1939, as the total revenue derived from the 1 1/2c
Gasoline Tax after the deductions first described, but before the
ratable Debt Service deductions and before the proportionate
deduction applicable to the respective sums of $1,804,000 for 1938
and $1,786,000 for 1939, bears to the net revenue produced by all
the gasoline taxes together with the net revenue produced "by the
Commissioner of Motor Vehicles (excluding truck license fees and
franchise taxes). The Comptroller of the Treasury and the Treas-
urer of Maryland shall obtain this sum so required, as a propor-
tionate share of the 1 1/2c Lateral Gasoline Tax, by deducting each
month a ratable proportion based on monthly receipts, and shall
direct, this sum into the General Fund of the State of Maryland,
and shall use and expend this sum in like manner and together
with other funds to discharge obligations incurred and arising in
connection with General Governmental purposes.

1938

1939