J. MILLARD TAWES, Governor                      411

Sec. 8. And be it further enacted, That, except as otherwise pro-
vided in this Act, no department, board, commission, agency or
institution 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 project listed in
Section 5 of this Act shall not have been contracted for within two
(2) years from the effective date of this Act, then such project
shall be deemed to have been abandoned. If the total loan author-
ized herein shall have been issued within two (2) 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 (2) 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. 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 de-
termined in the following manner: on or before December 1, 1964,
and on or before 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 principal 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.

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. 11. And be it further enacted, That, exempting EXCEPTING
funds herein appropriated for razing of the Superintendent's resi-
dence at Patuxent Institution, moneys derived from the sale of Certi-
ficates 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 improvement, 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. 12. And be it further enacted, That this Act shall take effect
June 1, 1964.

Approved April 7, 1964.