1324 LAWS OP MARYLAND [CH. 657

STRUCTION AND RECONSTRUCTION OF COUNTY
ROADS, DURING THE PERIOD SPECIFIED IN SEC-
TION 162A OF THIS SUB-TITLE, ANY SUCH COUNTY
MAY PARTICIPATE IN THE PROCEEDS OF THE
SALE OF BONDS BY THE STATE ROADS COMMIS-
SION AUTHORIZED BY THIS SECTION AND SUB-.
JECT TO LEGISLATIVE REVIEW AND ACTION IN
MANNER SIMILAR TO THAT PRESCRIBED IN SEC-
TION 8B OF THIS ACT IN THE FOLLOWING MAN-
NER:

(A) ANY SUCH COUNTY, NOT LATER THAN DE-
CEMBER FIRST OF EACH YEAR, MAY NOTIFY THE
COMMISSION OF ITS DESIRE TO PARTICIPATE IN
THE PROCEEDS OF A SERIES OF BONDS TO BE
ISSUED UNDER THIS SECTION IN THE NEXT SUC-
CEEDING FISCAL YEAR AND THE AMOUNT OF
SUCH PARTICIPATION PROPOSED;

(B) UPON RECEIPT OF SUCH NOTIFICATION,
THE COMMISSION SHALL DETERMINE THE TOTAL
PROCEEDS OF THE GASOLINE TAX FUND DIS-
TRIBUTED TO SAID COUNTY IN THE PRECEDING
FISCAL YEAR PURSUANT TO THE PROVISIONS OF
SECTION 22 OF THIS ARTICLE, EXCLUSIVE OF ANY
AMOUNTS SO DISTRIBUTED PURSUANT TO SAID
SECTION TO ANY MUNICIPALITIES IN SAID COUN-
TY;

(C) THE COMMISSION SHALL NEXT DETERMINE
THE TOTAL AMOUNT OF BONDS, ISSUABLE UNDER
THIS SECTION BY SAID COUNTY, WHICH COULD
BE ISSUED, IN THE DISCRETION OF THE COMMIS-
SION, WITH ADEQUATE ANNUAL DEBT SERVICE
COVERAGE, FROM THE ANNUAL AMOUNT OF THE
GASOLINE TAX FUND SO ALLOCABLE TO SAID
COUNTY AFTER PROVIDING THE ANNUAL DEBT
SERVICE COSTS ON ANY OUTSTANDING BONDS
THERETOFORE ISSUED BY SAID COUNTY TO
WHICH ITS SHARE OF SAID GASOLINE TAX FUND
HAS BEEN PLEDGED.

(D) SUBJECT TO ANNUAL RECOMPUTATION,
THE MAXIMUM AMOUNT OF THE BONDS AUTHOR-
IZED BY THIS SECTION WHICH THE COMMISSION
MAY ISSUE ON BEHALF OF EACH SUCH COUNTY,
AS ABOVE COMPUTED, SHALL BE THE LIMIT OF
PARTICIPATION FOE SUCH COUNTY UNDER THE
PROVISIONS OF THIS SECTION;