|
STATE ROADS COMMISSION— (Continued).
|
|
DETAILS OF BUDGET
|
|
1936-1937
|
|
Account TITLE 1936 1937
|
|
Number
|
|
03 ELIMINATION OF GRADE CROSSING CON-
|
|
STRUCTION— %c Gasoline Tax:
|
|
To the State Roads Commission the proceeds of
|
|
80% of the revenue of %c Gasoline Tax (less re-
|
|
fund exemptions) after making provision for such
|
|
deficiency, if any, which may exist or occur in
|
|
revenues applicable to debt service requirements
|
|
of bonds issued by any agency, which the General
|
|
Assembly in its discretion may deem proper to
|
|
authorize, for the purpose of acquiring the prop-
|
|
erty of the Claiborne-Annapolis Ferry Company,
|
|
and for the purpose of building approaches to any
|
|
bridge across Chesapeake Bay (contingent upon
|
|
the passage of an act of the General Assembly) ,
|
|
and after deducting % of the appropriation for
|
|
maintaining the Gasoline Tax Department in the
|
|
office of the State Comptroller, and after further
|
|
deducting from this net revenue, a sum represent-
|
|
ing that proportion of the total debt service re-
|
|
quired during the respective years applicable to
|
|
Road and Bridge Bonds of the State of Maryland,
|
|
as the total revenue derived from the 1/2c Gaso-
|
|
line Tax after the above deductions but before the
|
|
Debt Service deductions, bears to the net income
|
|
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 Treas-
|
|
ury and the Treasurer of Maryland shall accumu-
|
|
late the sum so required for Debt Service from
|
|
this revenue by deducting each month a ratable
|
|
contribution based on total monthly receipts, and
|
|
shall retain the amount so deducted for Debt
|
|
Service in the Bond Annuity Account of the State
|
|
of Maryland, and shall pay the amount so accu-
|
|
mulated on account of Debt Service obligations as
|
|
and when this class of obligation falls due during
|
|
the fiscal years 1936-1937. The amounts named
|
|
herein are computed as estimates only, it being
|
|
the intention that these appropriations shall be
|
|
100% of the revenues aforesaid, and it being fur-
|
|
ther the intention that should the proceeds of this
|
|
tax exceed the respective amounts herein set forth,
|
|
then such excess shall not revert to the General
|
|
Fund of the State, but shall be set over to the
|
|
use of the State Roads Commission. Out of the
|
|
net revenue as herein provided, the State Roads
|
|
Commission shall cause to be transferred to the
|
|
General Fund of the State, an amount equal to
|
|
(Page 259)
|
