1594 LAWS OF MARYLAND. [CH. 884

tion), and such part of one and four-tenths mills (. 0014c)
of the two cent (2c) gasoline tax required to be paid pur-
suant to the provisions of Section 241 of Article 56 of the
Annotated Code of Maryland (1939 Edition, as shall be
necessary to pay the principal and interest of such refund-
ing and improvement bonds as the same shall fall due, and
to provide for the creation and maintenance of a reserve
fund at all times of not less than 1% of the face value
of issued and outstanding bonds, such reserve fund to be
kept separate from other funds of the State and to be used
for the payment of such principal and interest in the event
that funds otherwise provided for herein shall prove un-
available or insufficient. Such annual tax as derived from
the above mentioned license fees and franchise taxes shall
amount to not less than $800, 000 per year, and as derived
from the above mentioned part of the gasoline tax shall
amount to not less than $280, 000 per year, and such annual
taxes shall not be repealed, diminished or applied to any
other object until the principal and interest of such refund-
ing and improvement bonds shall be fully paid or provi-
sions made for their payment. After the principal and
interest of such refunding and improvement bonds becom-
ing due each year shall have been paid and the reserve fund
of 7% of the face value of issued and outstanding bonds
maintained, the remaining revenue produced from the said
taxes each year shall be expended by the Commission as
otherwise provided for by law. If such reserve fund is
invested, it shall be invested only in obligations to the pay-
ment of which the full faith and credit of the State of
Maryland are pledged, or in bonds issued by the State
Roads Commission of Maryland, other than bonds which,
if purchased by the Commission, are required to be retired
or cancelled.

147F. Should any section, or part of a section of this
sub-title be held to be invalid or for any reason, such hold-
ing shall not be construed as affecting the validity of any
remaining section or part of a section of this sub-title, it
being the legislative intent that the remainder of this sub-
title shall stand, notwithstanding the invalidity of such
section or part of a section.

SEC. 2. And be it further enacted, That this Act is
declared to be an emergency law and necessary for the
immediate preservation of the public health and safety,
and being passed by a yea and nay vote, supported by
three-fifths of all the members elected to each of the two
Houses of the General Assembly, the same shall take effect
from the date of its passage.
Approved April 28, 1941.