J. MILLARD TAWES, Governor                     1249

year on the bonds or Certificates of Indebtedness issued pursuant to
this Act have been paid and that funds sufficient to meet all payments
of principal and interest due and payable on such bonds in the
said current year have been received and set aside for that pur-
pose in the Annuity Bond Fund, from the proceeds of the payments
into the Annuity Bond Fund which are provided for in Section 8
of this Act. 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 section shall not be levied or col-
lected in the said current year.

Provided further, however, that the levy or levies provided under
this 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]
May 1 of any succeeding year thereafter, the Board of Public Works
shall ascertain as a fact upon a certified statement rendered to such
Board by the State Comptroller that part but not all of the pay-
ments of principal 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 Certificates of Indebtedness in the said current year have
been received and set aside for that purpose, from the proceeds of
the payments into the Annuity Bond Fund which are provided for
in Section 8 of this Act. 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 resolution of the Board of Public
Works publicly declare that only so much of the State taxes provided
for in this 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 Certifi-
cates of Indebtedness in the preceding year, after making allowance
for collections in such year from the proceeds of the payments into
the Annuity Bond Fund which are provided for in Section 8 of this
Act, and from any previous levy of the tax provided for in this
section, 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 payments into the Annuity Bond Fund which
are provided for in Section 8 of this Act.

Any taxes collected to pay the principal of or interest on said
bonds or Certificates of Indebtedness, as hereinabove in this 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.

Chapter 66 of the Acts of 1958
9.

Until all of the interest on and principal of any certificates issued
under this Act have been paid in full, there is hereby levied and
imposed an annual State tax on each $100 of assessable property at