J. MILLARD TAWES, Governor                         63

Article 66½
29.

(a) In addition to the charges prescribed by this article there
is hereby levied and imposed an excise tax for the issuance of every
original certificate of title for motor vehicles and commercial motor
vehicles, excluding house and office trailers, in this State and for
the issuance of every subsequent certificate of title for such motor
vehicles and commercial motor vehicles in this State in the case of
sales or resales thereof, and [on and after July 1, 1952] the Depart-
ment of Motor Vehicles shall collect said tax upon the issuance of
every such certificate of title of a motor vehicle or commercial motor
vehicle, excluding house and office trailers, at the rate of [two] three
per centum of the fair market value of every such motor vehicle or
commercial motor vehicle, excluding house and office trailers, for
which such certificate of title is applied for and issued.

Sec. 4. And be it further enacted, That new Sections 211A-211G,
inclusive, be and they are hereby added to Article 89B of said Code
(1957 Edition and 1963 Supplement), title "State Roads," subtitle
"Bonds, Notes or Other Evidence of Indebtedness," to follow im-
mediately after Section 211 thereof, to be under the new subheading
"State Highway Construction Bonds, Third Issue," and to add new
Sections 211H-211L, inclusive, to said Article of said Code, to follow
immediately after Section 211G thereof and to be under the new sub-
title "Expenditure of Commission's Funds and Programming and
Scheduling of Highway Projects," and all to read as follows:

Article 89B

State Highway Construction Bonds, Third Issue
211A. Authorization of issue.

In order to finance, in part, (1) the rehabilitation and reconstruc-
tion of substandard roads in the State highway system, both primary
and secondary, to meet present and future needs, and (2) the develop-
ment and construction in new locations of roads made mandatory by
traffic demands, to become parts of the primary and secondary
systems of the State highway system, the State Roads Commission
of Maryland is hereby authorized and empowered, subject to the
limitations contained in Section 211B of this subheading and subject
to the approval of the Board of Public Works, as hereinafter pro-
vided, at any time and from time to time after June 1, 1966, by
resolution to borrow money and evidence said borrowing by the issue
of its serial maturity coupon bonds in the form and manner pre-
scribed by Section 211D of this subheading and to provide for the
payment of the principal and interest of the bonds from the taxes
pledged thereto by Section 211F of this subheading.

211B. Issue in series; designation; terms; limitation of amount
outstanding.

The bonds authorized by Section 211A of this subheading may be
issued in one or more series as the Commission may determine, pro-
vided the issue of each series, prior to sale thereof, shall first be
approved by resolution of the Board of Public Works. Each such
series shall bear a separate series letter in the order of the alphabet,
beginning, however, with the letter next after the one designating