332 LAWS OF MARYLAND [CH. 52

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YEAR 1952 AND ALL
SUCCEEDING YEARS UNTIL ALL THE FIRST IN-
STALLMENTS OF CERTIFICATES ISSUED UNDER
THE AUTHORITY OF THIS ACT ARE REDEEMED,
ONE-HALF OF ONE CENT (.5c) ON EACH ONE
HUNDRED DOLLARS ($100) OF ASSESSABLE PROP-
ERTY TO BE COLLECTED ACCORDING TO LAW, TO
MEET THE INTEREST ON AND PRINCIPAL OF SAID
FIRST INSTALLMENT OF CERTIFICATES. IN ADDI-
TION TO THE TAXES HEREINBEFOEE SPECIFIED
FOR SAID FIRST INSTALLMENT, UNTIL ALL OF
THE INTEREST ON AND PRINCIPAL OF ANY CEE-
TIFICATES HEREAFTER ISSUED UNDER THIS ACT
HAVE BEEN PAID IN FULL, THERE IS HEREBY LE-
VIED 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 DEC. 1, 1951, 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 BALTIMORE CITY
THE RATE OF STATE TAX ON EACH $100 OF AS-
SESSABLE PROPERTY NECESSARY TO PRODUCE
REVENUE TO MEET ALL INTEREST AND PRIN-
CIPAL WHICH WILL BE PAYABLE TO THE CLOSE
OF THE NEXT ENSUING CALENDAR YEAR ON ALL
CERTIFICATES (OTHER THAN SAID FIRST IN-
STALLMENT) THERETOFORE ISSUED OR THERE-
TOFORE AUTHORIZED BY RESOLUTION OF THE
BOARD OF PUBLIC WORKS TO BE ISSUED, AND
THE GOVERNING BODIES OF EACH OF THE COUN-