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Session Laws, 1953
Volume 606, Page 1327   View pdf image (33K)
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THEODORE R. MCKELDIN, GOVERNOR 1327

YEAR, THE SAID COUNTY SHALL FAIL TO LEVY
THE TAX PROVIDED FOR IN SAID AGREEMENT
AND SAID COUNTY'S SHARE OF THE GASOLINE
TAX FUND SHALL BE INSUFFICIENT TO MEET
THE DEBT SERVICE PAYMENT IN SAID YEAR.

(G-1) AND BE IT FURTHER PROVIDED THAT
NOTWITHSTANDING ANY OF THE PROVISIONS OF
THIS SECTION 162G, THE COUNTY COMMISSION-
ERS OF DORCHESTER COUNTY MAY ONLY PLEDGE
TO DEBT SERVICE ON BONDS ISSUED HEREUNDER
SO MUCH OF ITS SHARE OF THE 1953 INCREASE
IN THE GASOLINE TAX FUND AS ON THE DATE
OF SUCH PLEDGE IS EQUAL TO THE AMOUNT OF
SUCH INCREASE TO BE REALIZED IN THE FOL-
LOWING CONSECUTIVE FOUR-YEAR PERIOD.

SECTION 8A. AND BE IT FURTHER ENACTED,
THAT NO MONIES OR FUNDS COLLECTED UNDER
THE PROVISIONS OF THIS ACT SHALL BE USED
FOR OTHER THAN HIGHWAY PURPOSES, AND
THAT THE TREASURER OR OTHER AUTHORIZED
FINANCIAL OFFICER OF THE CITY OF BALTIMORE
AND OF EACH COUNTY AND OF EACH MUNICI-
PALITY RECEIVING FUNDS UNDER THE PROVI-
SIONS OF THIS ACT, SHALL, WITHIN NINETY DAYS
AFTER JUNE 30, OF EACH AND EVERY FISCAL
YEAR PREPARE AND SUBMIT TO THE STATE
COMPTROLLER A COMPLETE REPORT AS OF THE
END OF EACH SUCH FISCAL YEAR, ON THE USE
OF THE FUNDS AUTHORIZED BY THIS ACT, AND
ALLOCATED TO EACH OF THE RESPECTIVE PO-
LITICAL SUBDIVISIONS. SUCH REPORT SHALL
INCLUDE A COMPLETE LISTING OF ALL CON-
STRUCTION AND RECONSTRUCTION PROJECTS BY
LOCATION, TYPE OF WORK, AND AMOUNT EX-
PENDED; A SUMMARY OF MAINTENANCE EX-
PENDITURES BY ACCOUNT CLASSIFICATION AS
MAINTAINED BY THE POLITICAL SUBDIVISIONS;
AND A SCHEDULE OF DEBT SERVICE PAYMENTS
BY BOND ISSUES.

SECTION 8B. AND BE IT FURTHER ENACTED,
THAT THE COMMISSION DURING THE FOUR PRO-
GRAM YEARS NEXT SUCCEEDING THE EFFECTIVE
DATE OF THIS ACT, SHALL NOT ISSUE, IN THE AG-
GREGATE, FROM THE STATE HIGHWAY CONSTRUC-
TION BOND ISSUE PROVIDED FOR IN THIS ACT, AN
AMOUNT OF SAID BONDS IN EXCESS OF THE


 

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Session Laws, 1953
Volume 606, Page 1327   View pdf image (33K)
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