192                               LAWS OF MARYLAND                        [CH. 51

Provided further, however, that the levy or levies provided under
this section to be made in any year shall be made only in part, and
the said tax or taxes shall be collected only in part, if before Decem-
ber 1 of the preceding year, or before December 1 of any succeeding
year thereafter, the Board of Public Works shall ascertain as a fact
upon a certified statement rendered to such Board by the State Comp-
troller that part but not all of the payments of principal and interest
due and payable in that preceding year on the bonds or Certificates
of Indebtedness issued pursuant to this section have been paid, or
that part but not all of the funds required to meet all payments of
principal and interest due on such bonds or Certificates of Indebted-
ness in the said current year have been received and set aside for that
purpose, from the proceeds of the payments into the Annuity Bond
Fund which are provided for in Section 9 8 of this Act. In such event,
and upon the ascertainment of such fact by the Board of Public
Works, the Governor shall by proclamation issued pursuant to a
resolution of the Board of Public Works publicly declare that only so
much of the State taxes provided for in this section shall be levied or
collected in the current year as shall be necessary to make up the
amount necessary to meet all payments of principal and interest due
on the said bonds or Certificates of Indebtedness in the preceding
year, after making allowance for collections in such year from the
proceeds of the payments into the Annuity Bond Fund which are
provided for in Section 9 8 of this Act, and from any previous levy
of the tax provided for in this section, and to meet all payments of
principal and interest due on said bonds or Certificates of Indebted-
ness in the current year after making allowance for estimated col-
lections in the current year from the proceeds of the payments into
the Annuity Bond Fund which are provided for in Section 9 8 of this
Act.

Any taxes collected to pay the principal of or interest on said bonds
or Certificates of Indebtedness, as hereinabove in this section pro-
vided, shall be paid over by the State Comptroller, on or before the
15th day of January of the year following the year in which such
taxes are collected, to the State Treasurer, to be credited to the
Annuity Bond Fund, for the payment of principal of and interest
on such bonds or Certificates of Indebtedness.

Sec 11. 10. And be it further enacted, That all matters committed
by this section to the discretion of the Board of Public Works shall
be determined by a majority of said Board.

Sec 12. 11. And be it further enacted, That moneys derived from
the sale of Certificates of Indebtedness authorized by this Act shall
be used only for capital improvements and for no other purpose. In
determining whether an expenditure represents a capital improve-
ment the Board of Public Works shall be guided by the principle that
a capital improvement is an improvement, the useful life of which
shall be at least equal to the life of the bonds or Certificates of
Indebtedness by which it is financed.

Sec. 13. 12. And be it further enacted, That this Act shall take
effect June 1,1958.

Approved April 4, 1958—10:30 a.m.