THEODORE R. MCKELDIN, GOVERNOR                      331

ment of the expense of engraving, printing and other outlays con-
nected with the issue of the Loan hereby authorized, and for the
payment of the advertising directed by this Section, and all other
incidental expenses connected with the execution of its provisions in
connection with said loan.

The balance of the proceeds of bonds issued under the provisions
of this section shall be paid to the State Treasurer and shall be paid
out by the State Treasurer upon the order of the authority, and upon
warrants of the State Comptroller, solely for the purposes set forth
in subsection (a) of this section.

(f)  For the payment of the principal of and the interest on the
Bonds or Certificates of Indebtedness issued under the provisions of
this Section as the same become due and payable, there shall be and
is hereby laid an annual tax which shall consist of such amounts as
may be necessary of the proceeds of the tax of the net income of cer-
tain corporations, imposed pursuant to the provision of Section 288
(f) of Article 81 of the Annotated Code of Maryland (1957 Edition,
as amended).

(g)  In addition, there shall be and is hereby levied and imposed an
annual State tax on each one hundred dollars of assessable property
at a rate to be determined in the following manner; on or before
December 1,1958, 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 of Baltimore City the rate of State
tax on each one hundred dollars of assessable property necessary to
produce revenue to meet all interest and principal, if any, which will
be payable to the close of the next ensuing calendar year on all
bonds or Certificates of Indebtedness theretofore issued, or thereto-
fore authorized by resolution of the Board of Public Works to be
issued, under provisions of this Section, and the governing bodies of
each of the Counties and Baltimore City shall forthwith levy and
collect such tax at such rate.

Provided, however, that the levy or levies provided for in this sub-
section (g) shall not be made and the said tax or taxes shall not be
collected in any year if before December 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 Comptroller that all payments
of principal and interest due and payable in that preceding year on
the bonds or Certificates of Indebtedness issued pursuant to this Sec-
tion have been paid and that funds sufficient to meet all payments of
principal and interest due and payable on such bonds in the said
current year have been received and set aside for that purpose in the
Annuity Bond Fund, from the proceeds of the tax imposed under
provisions of Section 288 (f) of Article 81 of the Annotated Code
of Maryland (1957 Edition, as amended). Upon the ascertainment
of such fact by the Board of Public Works, the Governor shall, by
proclamation issued pursuant to resolution of the Board of Public
Works, publicly declare that the State taxes provided for in this sub-
section (g) shall not be levied or collected in the said current year.

Provided further, however, that the levy or levies provided under
this Sub-section (g) 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
December 1 of the preceding year, or before December 1 of any