WM. PRESTON LANE, JR., GOVERNOR 323

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SEC. 6. AND BE IT FURTHER ENACTED, THAT
UNTIL ALL OF THE INTEREST ON AND PRINCIPAL
OF ANY CERTIFICATES ISSUED UNDER THIS ACT
HAVE BEEN PAID IN FULL, THERE IS HEREBY
LEVIED AND IMPOSED AN ANNUAL STATE TAX
ON EACH $100 OF ASSESSABLE PROPERTY AT THE
RATE TO BE DETERMINED IN THE FOLLOWING
MANNER: ON OR BEFORE DECEMBER 1, 1950, AND
ON OR BEFORE DECEMBER 1 IN EACH CALENDAR
YEAR THEREAFTER, THE BOARD OF PUBLIC
WORKS SHALL CERTIFY TO THE GOVERNING
BODIES OF EACH OF THE COUNTIES AND BALTI-
MORE CITY THE RATE OF STATE TAX ON EACH
$100 OF ASSESSABLE PROPERTY NECESSARY TO
PRODUCE REVENUE TO MEET ALL INTEREST
AND PRINCIPAL WHICH WILL BE PAYABLE TO
THE CLOSE OF THE NEXT ENSUING CALENDAE
YEAR ON ALL CERTIFICATES THERETOFORE IS-
SUED OR THERETOFORE AUTHORIZED BY RESO-
LUTION OF THE BOARD OF PUBLIC WORKS TO BE
ISSUED, AND THE GOVERNING BODIES OF EACH
OF THE COUNTIES AND BALTIMORE CITY SHALL
FORTHWITH LEVY AND COLLECT SUCH TAX AT
SUCH RATE.

All matters committed by this Act to the discretion of
the Board of Public Works shall be determined by a major-
ity of said Board.

SEC. 7. And be it further enacted, That this Act shall
take effect June 1, 1950.

Approved March 28, 1950.