SPIRO T. AGNEW, Governor                        311

record and recorded, and the tax rate of 0.5% shall be applied based
upon the capitalization at 10 per cent of the average annual rental
on the entire term of the lease, including any renewal term, plus
the actual consideration, other than rent, paid or to be paid. Where
the average annual rental cannot be determined, the tax shall be
based upon a figure arrived at by multiplying the assessed value
of the property covered by the lease by 166 per cent.

322.

(a)    In addition to the tax imposed in Section 321 of this Code
a tax is hereby imposed upon every instrument of writing convey-
ing title to real property offered for record and recorded in Howard
County with the Clerk of the Circuit Court, provided that convey-
ances to the State or to any agency or instrumentality thereof, or
any political subdivision of the State, or any nonprofit hospital
or religious or charitable organization, association or corporation
shall not be subject to the tax imposed by this section. The term
"instrument of writing" as used in this section shall not be deemed
to include any mortgage, deed of trust, conditional sales contract,
or any other device the purpose of which is to afford a security
in real property rather than to convey title thereto.

(b)    The tax imposed by this section shall be levied at the rate
of one-half of one percent (0.5%) of the actual consideration paid
or to be paid for the conveyance of title and shall be collected by
the Clerk of the Circuit Court prior to his accepting any such in-
strument for recordation.

This tax shall also be imposed upon every lease for a term of
years above seven, not perpetually renewable, offered for record
and recorded, and the tax rate of 0.5% shall be applied based upon
the capitalization at 10 per cent of the average annual rental on
the entire term of the lease, including any renewal term, plus the
actual consideration, other than rent, paid or to be paid. Where
the average annual rental cannot be determined, the tax shall be
based upon a figure arrived at by multiplying the assessed value
of the property covered by the lease by 166 per cent.

(c)    Payment of the tax imposed by this section shall be evi-
denced by the affixing to or stamping on the instrument of writing
offered for recordation a legend stating that such tax has been paid
and the amount of payment and containing the signature of the
Clerk or an authorized facsimile thereof. Any instrument so exe-
cuted shall be prima facie evidence that the tax imposed by this
section has been paid.

(d)    The Clerk of the Circuit Court shall pay over to the County
Treasurer from time to time, under such procedures as the County
Treasurer may specify, the proceeds of this tax. The County Treas-
urer shall hold such proceeds in the general fund of the county
with the stipulation that the County Commissioners shall use fifty
percent of these proceeds for storm drainage, twenty-five percent
of these proceeds for urban renewal and twenty-five percent of these
proceeds for the acquisition or leasing of land for new fire house
sites and training facilities, the construction and maintenance of
fire house and training facilities, the acquisition and maintenance
of fire equipment, and supplementation of financial needs of fire
companies.