J. MILLARD TAWES, Governor                      889

Sec. 6. And be it further enacted, That all proceeds received
from the counties of this State which have been granted financial
assistance under the provisions of this Act and from the City of
Baltimore if said city has been granted financial assistance under
this Act, under agreements signed with the aforesaid counties or
the aforesaid city, all as more particularly provided in Section 5
of this Act, shall be deposited in a reserve fund by the State
Comptroller; such reserve fund to be used only for the payment of
the principal and interest on any and all certificates issued by the
State of Maryland pursuant to the terms of this Act.

Sec. 7. And be it further enacted, That 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 the rate to be determined in
the following manner: on or before December MAY 1, 1966, and on
or before December MAY 1 in each calendar year thereafter, the
Board of Public Works shall certify to the governing bodies of each
of the counties and Baltimore City the rate of State tax on each $100
of assessable property necessary to produce revenue to meet all
interest and principal which will be payable to the close of the next
ensuing calendar TAXABLE year on all certificates theretofore
issued or theretofore authorized by resolution of the Board of Public
Works to be issued and the governing bodies of each of the counties
and Baltimore City shall forthwith levy and collect such tax at such
rate. Provided, however, that the levy or levies provided for in this
section shall not be made and the said tax or taxes shall not be col-
lected in any year if before January JULY 1, 1966, and before the
beginning of each 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 all payment of principal and interest
on the certificates issued pursuant to the terms of this Act have
been met during the current year from the payments received from
each of the counties and the City of Baltimore, as more particularly
provided in Section 5 of this Act. Upon the ascertainment of such
fact by the Board of Public Works, the Governor shall, by procla-
mation issued pursuant to a resolution of the Board of Public
Works, publicly declare that the State taxes provided for in this
section shall not be collected or levied in any such succeeding year.

Sec. 8. And be it further enacted, That all matters committed by
this Act to the discretion of the Board of Public Works shall be de-
termined by a majority of said Board.

Sec. 9. And be it further enacted, That this Act shall take effect
June 1, 1965.

Approved May 4, 1965.

CHAPTER 636
(Senate Bill 634)

AN ACT to repeal and re-enact, with amendments, Section 5 (c) of
Chapter 22 of the Acts of 1962 and Section 5 (c) of Chapter 27 of