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Session Laws and Journals, 1964, March Special Session
Volume 673, Page 45   View pdf image (33K)
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J. MILLARD TAWES, Governor                         45

from said sinking fund to the Commission amounts sufficient for the
payment of the principal and interest of said bonds.

(c)  [(g)] Notwithstanding the provisions of said Section 34 of
this article for the distribution of the Gasoline Tax Fund among the
counties and municipalities of the State, the State Comptroller is
hereby further authorized and empowered to withhold an amount
sufficient to make up the debt service on any bonds issued in ac-
cordance with an agreement of the type above described from the
share of the Gasoline Tax Fund payable to municipalities within any
county, party to such agreement, in the event, in any fiscal year, the
said county shall fail to levy the tax provided for in said agreement
and said county's share of the Gasoline Tax Fund shall be insufficient
to meet the debt service payment in said year.

[(h) And be it further provided that notwithstanding any of the
provisions of this section, the County Commissioners of Dorchester
County may only pledge to debt service on bonds issued hereunder
so much of its share of the 1953 increase in the Gasoline Tax Fund as
on the date of such pledge is equal to the amount of such increase
to be realized in the following consecutive four-year period.]

(d)  [(i)] Any county participating in a bond issue authorized by
this section may include in its program to be financed thereby the
construction and reconstruction and major road repairs necessary
to eliminate damage caused by severe and unforeseen weather con-
ditions by any municipal corporation in such county of the streets
and highways under the jurisdiction of such municipal corporation
and, in the event any county shall include such construction and
reconstruction and such repairs in its notification to the Commission
made pursuant to sub-paragraph [(a)] (1) hereof, the Commission
shall, if it is satisfied that said county and any such municipal cor-
poration have entered into a valid agreement governing the division
of said county's share of said bond proceeds and the allocation to
debt service of so much as may be needed of the share of the Gasoline
Tax Fund payable under Section 34 of this article to such municipal
corporation, include said share of the Gasoline Tax Fund in its
computations made pursuant to sub-paragraphs [(c)] (3) and [(d)]
(4) of this section as though such share were fully allocable to said
county. If, in the exercise of the discretion vested in it by sub-
paragraph [(e)] (5) of this section, the Commission shall approve
the participation in a bond issue requested by any such county as
aforesaid, then all actions of the Commission and the State Comp-
troller taken pursuant to sub-paragraph [(f)] (6) of this section
shall be taken as though said share of the Gasoline Tax Fund allocable
to any such municipal corporation is available to the extent required
for its applicable debt service, but nothing contained in this para-
graph shall in any manner be deemed to restrict the application of
paragraph [(g)] (e) of this section to the excess of such share over
the amount needed for annual debt service nor shall anything con-
tained in this section be construed to require the Commission to see
to the proper division of bond proceeds between a county partici-
pating under this section and any municipal corporation therein.

[(j) And be it further provided that notwithstanding]

(e)  Notwithstanding any of the provisions of this section to the
contrary, the maximum amount of the bonds authorized by this
section which the Commission may issue in any fiscal year on behalf

 

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Session Laws and Journals, 1964, March Special Session
Volume 673, Page 45   View pdf image (33K)
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