320                             LAWS OF MARYLAND                      [CH. 118

Sec. 6. And be it further enacted, That all proceeds received from
the counties, municipalities and the City of Baltimore which have
been granted financial assistance under the provisions of this act,
under agreements signed with the aforesaid counties, municipalities
or City of Baltimore, as provided in Section 5 of this act, shall be
deposited in a reserve fund by the State Comptroller; such reserve
fund to be used only for the repayment of the principal and interest
on any and all certificates issued by the State of Maryland pursuant
to the terms of this act.

Sec. 7. And be it further enacted, That until all of the interest on
and principals of any certificates issued under this act have been paid
in full, there is hereby levied and imposed an annual State tax on
each One Hundred Dollars ($100) of assessable property at the rate
to be determined in the following manner: On or before December 1,
1964, and on or before December 1st of 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 ($100) of assessable property necessary
to produce revenue to meet all interest and principal which will be
payable to the close of the next ensuing calendar year on all certifi-
cates 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, municipalities, and Baltimore City will forthwith
levy and collect such a tax at such a rate; provided, however, that the
levy or levies authorized and directed in this section shall not be made,
and said tax or taxes shall not be collected in any year, if, before
January 1,1965 and before the beginning of each year thereafter, the
Board of Public Works shall ascertain as a fact that all payments of
principal and interest have been met during the current year by
payments from the reserve fund provided for in Section 6 of this act.
Upon the ascertaining of such facts by the Board of Public Works,
the Governor shall, by proclamation issued pursuant to a Resolution
of the Board of Public Works, publicly declare that the State taxes
provided for in this section shall not be collected or levied in any
such succeeding year.

Sec. 8. And be it further enacted, That all matters committed by
this act to the discretion of the Board of Public Works shall be deter-
mined by a majority of said Board.

Sec. 9. And be it further enacted, That this Act shall take effect
on June 1, 1964.

Approved April 7, 1964.

CHAPTER 118
(House Bill 27)

AN ACT to repeal and re-enact, with amendments, Section 112 of
Article 77 of the Annotated Code of Maryland (1957 Edition and
1963 Supplement), title "Public Education", subtitle "Chapter 8.
Teachers' Certificates, Salaries and Pensions", subheading "Teach-