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Session Laws, 1967
Volume 681, Page 1687   View pdf image (33K)
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SPIRO T. AGNEW, Governor                     1687

scope beyond that proposed in the specific appropriation in this Act
if the addition of Federal funds makes this possible, but not beyond
the total park acreage or development contemplated for the State
park or recreation area to which it applies, as evident from the master
plan for State parks and recreation areas as adopted by the Depart-
ment of Forests and Parks.

Sec. 10. And be it further enacted, That if any project listed in
Section 5 of this Act shall not have been contracted for within
two (2) years from the effective date of this Act, then such project
shall be deemed to have been abandoned. If the total loan authorized
herein shall have been issued within two (2) years from the effective
date of this Act, then the amount specified herein for said abandoned
project shall be transferred to the Annuity Bond Fund and shall be
applied to the debt service requirements of the State. If, however, the
total loan authorized herein shall not have been issued within two (2)
years from the effective date of this Act, then the total issuable
Certificates of Indebtedness authorized herein shall be reduced by
the amount specified herein for said abandoned project.

Sec. 11. 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 TAXABLE 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
taxable year on all certificates theretofore issued or heretofore auth-
orized 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, the cost
of paying the principal and interest on bonds issued to pay the cost
of capital improvements for the Department of Motor Vehicles and
the Department of Maryland State Police as set out herein shall be
paid from the fines and other receipts of the Department of Motor
Vehicles, notwithstanding the provisions of Section 341 (d-3) of
Article 66½ of the Annotated Code of Maryland (1966 Supplement)
and the cost of debt service for bonds issued for this purpose shall
not be included by the Board of Public Works in determining the
tax rate under the provisions of this Section unless the revenues
from the fines and other receipts of said Department of Motor
Vehicles be insufficient to provide necessary funds to pay the prin-
cipal and interest on such bonds.

All matters committed by this Act to the discretion of the Board
of Public Works shall be determined by a majority of said Board.

Sec. 12. And be it further enacted, That, except as otherwise
indicated herein, moneys derived from the sale of Certificates of
Indebtedness authorized by this Act shall be used only for capital
improvements and for no other purpose. In determining whether an
expenditure represents a capital improvement, the Board of Public
Works shall be guided by the principle that a capital improvement

 

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Session Laws, 1967
Volume 681, Page 1687   View pdf image (33K)
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