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Session Laws, 1968
Volume 683, Page 721   View pdf image
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SPIRO T. AGNEW, Governor                       721

[(2) Thirty per cent thereof shall be added to the share of the
Gasoline Tax Fund allocated to the Mayor and City Council of Balti-
more under Section 33 of this Article and shall be disbursed and
used as therein provided.]

[(3) Twenty per cent thereof shall be added to the portion of the
Gasoline Tax Fund allocated for the benefit of the counties and
municipalities of the State (except Baltimore City) under Section 34
of this Article and shall be disbursed and used as therein provided.]

38 A.

(a)  This law is enacted to modify existing law relating to the dis-
tribution and use of highway user revenues in order to effectuate
certain of the recommendations made by a joint committee appointed
by the Executive and Legislative branches of the State Government
to make an in-depth study of the financing and programming of
highway projects by the State Roads Commission. However, it is
hereby expressly declared to be the legislative intent that the modi-
fications made by this act to the application of funds as provided
in Sections 29 A through 38 of this Article will in no manner affect
the security of "State Highway Construction Bonds, First Issue"
(authorized by Sections 189 through 198 of this Article), "State
Highway Construction Bonds, Second Issue" (authorized by Sections
199 to 211
210 of this Article), 'State Highway Construction Bonds,
Third Issue" (authorized by Sections 211A through 211G of this
Article) and "County Highway Construction Bonds" (authorized by
Section 211 of this Article). It being the intention hereof that, so
long as any of such bonds remain outstanding, the taxes laid to
pay the costs of principal and interest thereof shall not be repealed,
diminished or applied to any other object and shall be deemed to
continue as a charge upon such taxes. It is also expressly declared
to be the legislative intent that the revenues (the additional 1¢ a
gallon increase in the gasoline tax and the additional 1% of the
excise tax on the issuance of certificates of title of motor vehicles,
and the excess over and above the Sinking Fund requirements of
the taxes imposed by Sections 196 and 209 of this Article, as enacted
by the 1964 session of the General Assembly) heretofore imposed
and pledged to pay the interest and principal on State Highway
Construction Bonds, Third Issue, heretofore authorized but not
issued, are irrevocably pledged to the payment of the principal and
interest on such bonds as the same shall become due and payable,
and such taxes and other funds to the extent required, shall not be
repealed, diminished or applied to any other object until such bonds
and the interest thereon shall be fully paid or until adequate and
complete provision for such payment shall have been made. It is
further declared to be the legislative intent that the Sinking Fund
requirements heretofore established to pay the principal and interest
on State Highway Construction Bonds, First Issue, State Highway
Construction Bonds, Second Issue, and State Highway Construction
Bonds, Third Issue, and the Sinking Fund requirements of all
County Highway Construction Bonds shall remain unchanged as
though this law were not enacted.

(b)  Distribution of Highway User Revenues to Baltimore City,
the Counties and the State Roads Commission.

Where the provisions of Sections 29A through 38 and elsewhere
in this Article, relating to the distribution and use of highway user


 

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Session Laws, 1968
Volume 683, Page 721   View pdf image
 Jump to  
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