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Session Laws, 1961
Volume 654, Page 119   View pdf image (33K)
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J. Millard Tawes, Governor                       119

that, prior to said sale, the Commission and said county shall have
entered into an agreement, in accordance with law, which shall
specify that:

(I)   The amount of bonds to be issued on behalf of said county,
as herein provided, shall be repaid, together with interest, within
fifteen (15) years from their date or dates of issue;

(II)   Each such issue of bonds under this section, on behalf of any
such county, shall first be approved prior to the sale thereof by
resolution of the Board of Public Works as provided in Section 200
of this sub-heading;

(III)   The State Comptroller shall be authorized and empowered
to withhold and deposit monies to the credit of a sinking fund
established for the purpose of paying the principal of and interest
on such bonds, from any and all funds allocable to such county under
Section 34 of this article, until an amount equal to such debt service
payable in the current and next succeeding fiscal year shall have
been accumulated, and thereafter an amount equal to debt service
on said bonds in each succeeding fiscal year, unless said county shall
elect to deposit said amount with the State Comptroller pursuant to
subparagraph (IV) hereof, provided, however, that no portion of
said funds may be so withheld that have been previously pledged
for debt service on outstanding bonds of said county, as provided in
said Section 34;

(IV)   In any year that any of said bonds covered by said agree-
ment are outstanding, said county may make an annual levy on its
taxable basis in rate and amount sufficient to provide a sum equiva-
lent to the amount to be withheld by the State Comptroller, as pro-
vided in subparagraph (III) above, in which event the State Comp-
troller shall not withhold any more of said gasoline tax funds of
said county than may be necessary to assure payment of the prin-
cipal and interest of said bonds in the current and next succeeding
fiscal year;

(V)   The State Comptroller shall at regular intervals pay from
said sinking fund to the Commission amounts sufficient for the pay-
ment of the principal and interest of said bonds.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved March 23, 1961.

CHAPTER 130
(Senate Bill 203)

AN ACT to repeal and re-enact, with amendments, Sections 16 (c)
and 16 (d) of Article 59 of the Annotated Code of Maryland
(1957 Edition), title "Lunatics and Insane", sub-title "Depart-
ment of Mental Hygiene", changing the laws concerning mental
hygiene in this State in order to change the name of the Division
of Psychiatric Education and Training to Division of Medical
Services, providing for the administration of this Division, re-

 

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Session Laws, 1961
Volume 654, Page 119   View pdf image (33K)
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