568                              Laws of Maryland                       [Ch. 422

may be subsequently disposed of under the direction of the Board of
Public Works at a private sale upon the best terms they can obtain
for the same; provided that they shall not be sold at a private sale
for less than par and accrued interest.

(e)  The sum of Twenty-five Thousand Dollars ($25,000.00) or so
much thereof as may be necessary, shall be paid by the Treasurer
of the State upon the warrant of the Comptroller out of the proceeds
of the sale of the said Bonds or Certificates of Indebtedness for the
payment of the expense of engraving, printing and other outlays
connected 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 sub-section (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
certain corporations, imposed pursuant to the provision of Section
288 (f) of Article 81 of the Annotated Code of Maryland (1957
Edition, as amended) subject to the prior use and application thereof
for the purpose of complying with the provisions of Section 8 of
this Article.

(g)  On or before November 15, 1961, and on or before November
15 of each calendar year thereafter, the State Comptroller shall
render to the Maryland Port Authority a certified statement of the
amount, if any, which when added to the amounts which shall have
been received and set aside in the Annuity Bond Fund and are then
available for the purpose of paying the principal of and the interest
on the bonds or Certificates of Indebtedness theretofore issued, or
theretofore authorized by resolution of the Board of Public Works
to be issued, under the provisions of this Section, will be required
to pay the principal of and the interest on said bonds or
Certificates of Indebtedness to the close of the next ensuing calendar
year. On or before November 30, 1961, and on or before November SO
of each calendar year thereafter, the Maryland Port Authority, out
of its gross revenues, shall pay into the Annuity Bond Fund the
amount so certified to it by the State Comptroller, unless the Board
of Public Works, upon proof satisfactory to it, shall have theretofore
authorized a lesser amount to be paid into the Annuity Bond Fund
or shall have theretofore relieved the Maryland Port Authority to
make such payment, in order to enable the Mainland Port Authority
to meet its necessary operating expenses and to provide a reasonable
working capital; provided, that the Board of Public Works may in
any subsequent year or years, in addition to the payments called
for during such year by the foregoing provision of this sub-section
(g), require the Authority to restore to the Annuity Bond Fund all
or any part of such amount as may have been previously paid into
such Fund pursuant to sub-section (h) hereof.