SPIRO T. AGNEW, Governor                      1409

State Board of Education, and shall be approved by the Board of
Public Works.

(f) The governing body of each of the counties in this State and
the Mayor and City Council of Baltimore are hereby authorized and
empowered to enter into any and all contracts or agreements re-
quired under the terms of this Act, or which may be required by
regulations duly promulgated by the State Department of Education
or the Board of Public Works pursuant to the provisions of this
Act, any other provisions of public general law or of public local
law to the contrary notwithstanding.

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 ANNUITY BOND
FUNDS by the State Comptroller; such reserve fund to be used only
for the payment of the principal and interest on any and all certifi-
cates 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 May 1, 1968, and on or before
May 1 in each 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 neces-
sary to produce revenue to meet all interest and principal which will
be payable to the close of the next ensuing taxable year on all cer-
tificates 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 collected in any year if before July MAY 1,
1968, and before the beginning MAY 1 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 proclamation 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.