44                                LAWS OF MARYLAND                        [CH. 24

issue on behalf of each such county, as above computed, shall be the
limit of participation for such county under the provisions of this
section;

(5)   [(e)] With respect to any such series of bonds authorized
under this section, the Commission may, in its discretion, limit the
participation of any such county in said series so that no county
shall obtain more than its appropriate share of the total proceeds
of said series;

(6)   [(f)] Upon making said computation, the Commission shall
notify each such county so desiring to participate, as aforesaid, of
the amount of bonds which the Commission will issue in said fiscal
year on behalf of said county, as above determined, and said Com-
mission shall then issue and sell such amount of its bonds under this
section as a part of the next series of such bonds, and shall pay the
net proceeds of such bonds to each such county after deducting from
each a proportionate share of the cost of the issuance of said bonds
and any bonds issued under the provisions of this section shall become
the obligations of the State Roads Commission and shall not be
considered a debt of any county for the purpose of determining debt
limitations, and further provided that, prior to said sale, the Com-
mission and said county shall have entered into an agreement, in
accordance with law, which shall specify that:

(i) [(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) [(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) [(III)] The State Comptroller shall be authorized and em-
powered 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 Comp-
troller pursuant to sub-paragraph [(IV)] (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) [(IV)] In any year that any of said bonds covered by said
agreement are outstanding, said county may make an annual levy
on its taxable basis in rate and amount sufficient to provide a sum
equivalent to the amount to be withheld by the State Comptroller,
as provided in sub-paragraph [(III)] (in) above, in which event the
State Comptroller shall not withhold any more of said gasoline tax
funds of said county than may be necessary to assure payment of
the principal and interest of said bonds in the current and next
succeeding fiscal year;

(v) [(V)] The State Comptroller shall at regular intervals pay