MARVIN MANDEL, Governor                        1113

THE SAID TAX OR TAXES SHALL NOT BE COLLECTED IN
ANY YEAR IF BEFORE MAY 1 THE PRECEDING YEAR OR
BEFORE MAY 1 OF ANY SUCCEEDING 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
PAYMENTS OF PRINCIPAL AND INTEREST DUE AND PAY-
ABLE IN THAT PRECEDING YEAR ON THE BONDS OR CER-
TIFICATES OF INDEBTEDNESS ISSUED PURSUANT TO THIS
SECTION HAVE BEEN PAID AND THAT FUNDS SUFFICIENT
TO MEET ALL PAYMENTS OF PRINCIPAL AND INTEREST
DUE AND PAYABLE ON SUCH BONDS IN THE FISCAL
YEAR FOR WHICH THE TAX IMPOSED BY THIS SECTION
IS TO BE LEVIED HAVE BEEN RECEIVED AND SET ASIDE
FOR THAT PURPOSE IN THE ANNUITY BOND FUND, FROM
THE PROCEEDS OF THE TAX IMPOSED UNDER PROVISIONS
OF SECTION 208 OF ARTICLE 46A 48A OF THE ANNOTATED
CODE OF MARYLAND AS SET FORTH IN SECTION 9 OF THIS
ACT. UPON THE ASCERTAINMENT OF SUCH FACT BY THE
BOARD OF PUBLIC WORKS, THE GOVERNOR SHALL, BY
PROCLAMATION ISSUED PURSUANT TO RESOLUTION OF
THE BOARD OF PUBLIC WORKS, PUBLICLY DECLARE THAT
THE STATE TAXES PROVIDED FOR IN THIS SECTION
SHALL NOT BE LEVIED OR COLLECTED IN THE SAID
CURRENT YEAR.

PROVIDED FURTHER, HOWEVER, THAT THE LEVY OR
LEVIES PROVIDED UNDER THIS SECTION TO BE MADE
IN ANY YEAR SHALL BE MADE ONLY IN PART, AND THE
SAID TAX OR TAXES SHALL BE COLLECTED ONLY IN
PART, IF BEFORE MAY 1 OF THE PRECEDING YEAR, OR
BEFORE MAY 1 OF ANY SUCCEEDING 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 PART
BUT NOT ALL OF THE PAYMENTS OF PRINCIPAL AND
INTEREST DUE AND PAYABLE IN THAT PRECEDING YEAR
ON THE BONDS OR CERTIFICATES OF INDEBTEDNESS
ISSUED PURSUANT TO THIS SECTION HAVE BEEN PAID,
OR THAT PART BUT NOT ALL OF THE FUNDS REQUIRED
TO MEET ALL PAYMENTS OF PRINCIPAL AND INTEREST
DUE ON SUCH BONDS OR CERTIFICATES OF INDEBTED-
NESS IN THAT FISCAL YEAR FOR WHICH THE TAX IM-
POSED BY THIS SECTION IS TO BE LEVIED HAVE BEEN
RECEIVED AND SET ASIDE FOR THAT PURPOSE, FROM
THE PROCEEDS OF THE TAX IMPOSED UNDER PROVISIONS
OF THE SAID SECTION 208 OF ARTICLE 46A 48A AS SET
FORTH IN SECTION 9 OF THIS ACT. IN SUCH EVENT, AND
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
ONLY SO MUCH OF THE STATE TAXES PROVIDED FOR IN
THIS SECTION SHALL BE LEVIED OR COLLECTED IN
THE CURRENT YEAR AS SHALL BE NECESSARY TO MAKE
UP THE AMOUNT NECESSARY TO MEET ALL PAYMENTS
OF PRINCIPAL AND INTEREST DUE ON THE SAID BONDS