1122                           LAWS OF MARYLAND                     [CH. 440

State by such counties or city within fifteen (15) years of the date
of approval of such agreement by the Board of Public Works; (2)
such counties or city shall share on a pro-rata basis in the repay-
ment of the amount of said excess, interest, and carrying charges;
(3) if any county or the City of Baltimore does not make, as due,
any payment or payments of principal, interest, or carrying charges,
the Comptroller of the Treasury shall make all such payments of
principal, interest, or carrying charges as due and shall deduct
these payments from any funds then or thereafter due to that county
or the City of Baltimore from any funds then or thereafter due to
that political subdivision under applicable provisions of State law
relating to the income tax, the tax on racing, the tax on amuse-
ments, the license tax, or the incentive fund for school buildings;
and (4) such other terms and conditions as may be required by
regulation of the State Board for Community Colleges and approved
by the Board of Public Works.

(d)  The agreement described in paragraph 2 (c) of this section
shall be signed on behalf of the State of Maryland by the State Board
for Community Colleges, and shall be approved by the Board of
Public Works.

(e)  The governing body of each of the counties and the Mayor
and City Council of Baltimore are hereby authorized and empowered
to enter into any and all contracts or agreements required under the
terms of this Act, or which may be required by regulations duly pro-
mulgated by the State Board for Community Colleges or the Board
of Public Works pursuant to the provisions of this Act, any other
provision of public general law or public local law to the contrary
notwithstanding.

Sec. 6. And be it further enacted, That all proceeds received
from any county or the City of Baltimore under any agreement,
entered into with such county or the City of Baltimore by the State
Board for Community Colleges on behalf of the State of Maryland
under the provisions of Section 5 of this Act, shall become a part
of the Annuity Bond Fund and shall be applied to the debt service
requirements of the State.

Sec. 7. And be it further enacted, That until all of the interest
on and principals PRINCIPAL of any certificates issued under this
Act are HAVE BEEN paid in full, there is hereby levied and imposed
an annual State tax on each One Hundred Dollars ($100) of assess-
able property at the rate to be determined in the following manner:

On or before May 1, 1970, and on or before May 1st in each tax-
able year thereafter the Board of Public Works certifies , THE
BOARD OF PUBLIC WORKS SHALL CERTIFY to the governing
bodies of each of the counties and of Baltimore City the rate of State
tax on each One Hundred Dollars ($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 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 will SHALL forthwith
levy and collect such a a tax at such a TAX AT SUCH rate.