30 LAWS OF MARYLAND [CH. 7

HAVE BEEN CONTRACTED FOR WITHIN FOUR
YEARS FROM THE EFFECTIVE DATE OF THIS ACT,
THEN SUCH PROJECT SHALL BE DEEMED TO
HAVE BEEN ABANDONED. IF THE TOTAL LOAN
AUTHORIZED HEREIN SHALL HAVE BEEN ISSUED
WITHIN FOUR YEARS FROM THE EFFECTIVE
DATE OF THIS ACT, THEN THE AMOUNT SPECI-
FIED HEREIN FOR SAID ABANDONED PROJECT
SHALL BE TRANSFERRED TO THE ANNUITY BOND
FUND AND SHALL BE APPLIED TO THE DEBT
SERVICE REQUIREMENTS OF THE STATE. IF,
HOWEVER, THE TOTAL LOAN AUTHORIZED HERE-
IN SHALL NOT HAVE BEEN ISSUED WITHIN FOUR
YEARS FROM THE EFFECTIVE DATE OF THIS ACT,
THEN THE TOTAL ISSUABLE CERTIFICATES OF
INDEBTEDNESS AUTHORIZED HEREIN SHALL BE
REDUCED BY THE AMOUNT SPECIFIED HEREIN
FOR SAID ABANDONED PROJECT.

SEC. 7 8. 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, 1953, 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 assessable property necessary to pro-
duce revenue to meet all interest and principal which will
be payable to the close of the next ensuing calendar year
on all certificates theretofore issued or theretofore author-
ized by resolution 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
majority of said Board.

SEC. 9. AND BE IT FURTHER ENACTED, THAT
THE STATE TAX IMPOSED IN THE PRECEDING
SECTION SHALL NOT BE LEVIED OR COLLECTED
EXCEPT IN THE EVENT THAT FUNDS SUFFICIENT
TO MAKE THE PAYMENTS OF INTEREST AND
PRINCIPAL ON THE CERTIFICATES OF INDEBTED-
NESS ISSUED UNDER THE PROVISIONS OF THIS
ACT SHALL NOT BE PRESENT AND AVAILABLE
AS IN THIS SECTION REQUIRED. IN SUBMITTING