THEODORE R. MCKELDIN, GOVERNOR                     43

SEC. 8. And be it further enacted, That if any projects listed in
this Act shall not have been contracted for within two 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 two years from the effective date of this Act, then
the amount specified 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 herein shall not have been issued within two 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. 9. 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, 1958, and on or be-
fore 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 produce revenue to meet all interest and prin-
cipal which will be payable to the close of the next ensuing calendar
year on all certificates theretofore issued or theretofore authorized
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; provided, the cost
of paying the principal and interest on bonds issued to pay the cost
of capital improvements for the Department of Maryland State
Police and for the Department of Motor Vehicles as set out herein
shall be paid from the fines and other receipts of the Department of
Motor Vehicles provided in Section 303 of Article 66 1/2 of the Anno-
tated Code of Maryland (1957 Supp.), and the cost of debt service
for bonds issued for these purposes shall not be included by the
Board of Public Works in determining the tax rate under the pro-
visions of this Section unless the revenues from the fines and other
receipts of said Department of Motor Vehicles be insufficient to pro-
vide necessary funds to pay the principal and interest on such bonds.

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. 10.. 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. 11. And be it further enacted, That this Act shall take effect
June 1, 1958.

Approved April 4, 1958—11.30 a.m.