1024                            LAWS OF MARYLAND                     [CH. 711

ments of principal and interest due and payable on such bonds in the
said current year have been received and set aside for that purpose in
the Annuity Bond Fund, from the proceeds of the tax imposed under
provisions of Section 288 (f) of Article 81 of the Annotated Code of
Maryland (1957 Edition, as amended) [, or from the payments into
the Annuity Bond Fund by the Maryland Port Authority required
by sub-section (g) hereof]- Upon the ascertainment of such fact by
the Board of Public Works, the Governor shall, by proclamation
issued pursuant to resolution of the Board of Public Works, publicly
declare that the State taxes provided for in this sub-section shall
not be levied or collected in the said current year.

Provided further, however, that the levy or levies provided under
this sub-section to be made in any year shall be made only in part,
and the said tax or taxes shall be collected only in part, if before
December MAY 1 of the preceding year, or before December 1 of any
succeeding year thereafter, the Board of Public Works shall ascer-
tain as a fact upon a certified statement rendered to such Board by
the State Comptroller that part but not all of the payments of prin-
cipal and interest due and payable in that preceding year on the
bonds or certificates of indebtedness issued pursuant to this section
have been paid, or that part but not all of the funds required to meet
all payments of principal and interest due on such bonds or certifi-
cates of indebtedness in the said current TAXABLE year have been
received and set aside for that purpose, from the proceeds of the tax
imposed under provisions of the said Section 288 (f) of Article 81 [,
or from the payments into the Annuity Bond Fund by the Maryland
Port Authority required by sub-section (g) hereof]. In such event,
and upon the ascertainment of such fact by the Board of Public
Works, the Governor shall by proclamation issued pursuant to a reso-
lution of the Board of Public Works publicly declare that only so
much of the State taxes provided for in this sub-section shall be levied
or collected in the current year as shall be necessary to make up the
amount necessary to meet all payments of principal and interest due
on the said bonds or certificates of indebtedness in the preceding
year, after making allowance for collections in such year from the
proceeds of the tax imposed under provisions of said Section 288 (f)
and from any previous levy of the tax provided for in this sub-
section [and after making allowance for payments into the Annuity
Bond Fund by the Maryland Port Authority required by sub-section
(g) hereof], and to meet all payments of principal and interest due
on said bonds or certificates of indebtedness in the current year
after making allowance for estimated collections in the current year
from the proceeds of the tax imposed by said Section 288 (f) [, and
after making allowance for payments into the Annuity Bond Fund
by the Maryland Port Authority required by sub-section (g) hereof].

Any taxes collected to pay the principal of or interest on said
bonds or certificates of indebtedness, as hereinabove in this sub-
section provided, shall be paid over by the State Comptroller, on or
before the 15th day of January of the year following the year in
which such taxes are collected, to the State Treasurer, to be credited
to the Annuity Bond Fund, for the payment of principal of and
interest on such bonds or certificates of indebtedness.

Sec. 3. And be it further enacted, That this Act is hereby
declared to be an emergency measure and necessary for the imme-