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Session Laws and Journals, 1964, March Special Session
Volume 673, Page 67   View pdf image (33K)
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J. MILLARD TAWES, Governor                           67

succeeding calendar year. Said proceeds are hereby irrevocably
pledged to the payment of the principal of and interest on the bonds
issued pursuant to the authority of Section 211A of this subheading,
as the same shall become due and payable, and such taxes, to the
extent hereby required, shall not be repealed, diminished or applied
to any other object until such bonds and the interest thereon shall be
fully paid or until adequate and complete provision for such payment
shall have been made.

211G. Accounts as to bonds and proceeds.

The Commission shall so keep its accounts relating to the bonds
authorized by Section 211A and to the funds derived from the sale
of said bonds as to make readily obtainable information on the items
listed in Section 197 of this Article.

Expenditure of Commission's Funds and Programming and
Scheduling of Highway Projects.

211H. Monies received by the State Roads Commission from the
Commission's 50% share of the Motor Vehicle Revenue Fund, the
Commission's share of the Gasoline Tax Fund, the Motor Vehicle
Titling Tax and from the proceeds of State Highway Construction
Bonds, Second and Third Issues, shall, to the extent required, be
expended by the Commission for the following purposes:

(1) To provide the required Sinking Funds against bonds issued
by the State Roads Commission as provided in this Article; (2) to
pay the cost of expenditures authorized and enumerated in Sections
204 and 211E of this Article; (3) to pay the cost of projects on the
primary and secondary highway systems of the State, including
projects which are financed by State and Federal funds, as such
projects are enumerated in the document dated January 30, 1964.,
and entitled "Highway Construction Program, Fiscal Years 1965
through 1970", such document, when authenticated as to accuracy
by the Chairman of the Commission, shall be filed with the Secretary
of the Commission and is hereby made a part of this Act by refer-
ence; (4) to pay the cost of highway construction or reconstruc-
tion projects in the several counties authorized by the 1960 session
of the General Assembly which projects are commonly known and
referred to as projects in the "Go" Program and which have not
been completed; (5) to pay the cost of completing any project or
program heretofore approved by the General Assembly but not con-
cluded on or before the effective date of this Act; (6) to pay the cost
of maintaining and operating the primary and secondary highway
systems of the State to the extent funds are available for such pur-
poses under the provisions of this Article; (7) the Commission by
resolution may authorize expenditures during any fiscal year in
amounts not to exceed the sum of Five Hundred Thousand Dollars
($500,000.00) for the purpose of paying engineering and design costs
on future State highway projects not included in the document
entitled "Highway Construction Program, Fiscal Years 1965 through
1970" but included in the official "Needs Study" program of the
Commission (such "Needs Study" program shall be authenticated
as to accuracy by the Chairman and filed with the Secretary of the
Commission), or to pay the cost of engineering studies occasioned
by population shifts and industrial growth; (8) the Commission by
resolution may authorize the expenditure during any fiscal year in
amounts not to exceed the sum of One Million Dollars ($1,000,000.00)


 

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Session Laws and Journals, 1964, March Special Session
Volume 673, Page 67   View pdf image (33K)
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