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Session Laws, 1961
Volume 654, Page 1628   View pdf image (33K)
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1628                              Laws of Maryland                       [Ch. 885

Construction, including site

improvements .................. 282,800

350,000
Utilities ................................. 4,100

Total—Maryland State College,

Princess Anne .................................... 286,900

354,100

Total—University of Maryland .................................. 4,274,100

4,341,300

Grand Total.......................................................... $16,750,400

$18,172,000

$18,180,000

Sec. 6. And be it further enacted. That all unexpended funds re-
maining from completed projects authorized under this Act shall be
transferred to the Annuity Bond Fund and shall be applied to the
debt service requirements of the State, said transfer to be made one
year after the date of the final acceptance of the project by the State,
said date of final acceptance to be certified in writing to the Board
of Public Works by the Department of Public Improvements.

Sec. 7. And be it further enacted, That any brick structures au-
thorized to be paid for from the proceeds of the sale of the Certifi-
cates of Indebtedness authorized by this Act shall be of face brick,
with cinder block or slag block back-up, and shall not have a brick
back-up.

Sec. 8. And be it further enacted, That, except as otherwise pro-
vided in this Act, no department, board, commission, agency or insti-
tution specified or named in this Act shall begin any work with funds
secured pursuant to the provisions of this Act unless satisfactory
assurances are made to the Board of Public Works that the work
described in the individual items in this Act can be completed with
the funds specified for each such item respectively.

Sec. 9. And be it further enacted, That if any projects listed in
Section 5 of 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 Certifi-
cates of Indebtedness authorized herein shall be reduced by the
amount specified herein for said abandoned project.

Sec. 10. 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 fol-

 

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Session Laws, 1961
Volume 654, Page 1628   View pdf image (33K)
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