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Session Laws, 1969
Volume 692, Page 1666   View pdf image
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1666                             LAWS OF MARYLAND                       [CH. 767

on such bonds, from any and all funds allocable to such county under
Section 34 of this article,
AFTER PROVISION FOR SINKING
FUND REQUIREMENTS ON COUNTY HIGHWAY CONSTRUC-
TION BONDS AUTHORIZED AND ISSUED UNDER SECTION
211-G OF THIS ARTICLE, until an amount equal to such debt service
payable in the current and next succeeding fiscal year shall have
been accumulated, and thereafter an amount equal to debt service
on said bonds in such succeeding fiscal year, unless said county shall
elect to deposit said amount with the State Comptroller pursuant to
subparagraph (iv) hereof, provided however that no portion of said
funds may be so withheld that have been previously pledged for
debt service on outstanding bonds of said county, as provided in said
Section 34;

(iv) In any year that any of said bonds covered by said agree-
ment are outstanding, said county may make an annual levy on its
taxable basis in rate and amount sufficient to provide a sum equiva-
lent to the amount to be withheld by the State Comptroller, as pro-
vided in subparagraph (in) above, in which event the State Comp-
troller shall not withhold any more of said gasoline tax funds
HIGH-
WAY USER REVENUES of said county than may be necessary to
assure payment of the principal and interest of said bonds in the
current and next succeeding fiscal year;

(v) The State Comptroller shall at regular intervals pay from
said sinking fund to the Commission amounts sufficient for the pay-
ment of the principal and interest of said bonds.

(vi) (C) Notwithstanding the provisions of said Section 34 of
this article for the distribution of the Gasoline Tax Fund
SHARE OF
HIGHWAY USER REVENUES among the counties and municipali-
ties of the State, the State Comptroller is hereby further authorized
and empowered to withhold an amount sufficient to make up the debt
service on any bonds issued in accordance with an agreement of the
type above described from the share of the Gasoline Tax Fund
HIGH-
WAY USER REVENUES payable to municipalities within any
county, party to such agreement, in the event, in any fiscal year, the
said county shall fail to levy the tax provided for in said agreement
and said county's share of the Gasoline Tax Fund
HIGHWAY USER
REVENUES shall be insufficient to meet the debt service payment
in said year.

(vii) Any county participating in a bond issue authorized by

this section may include in its program to be financed thereby the

construction and reconstruction and major road repairs necessary
to eliminate damage caused by severe and unforeseen weather con
-

ditions by any municipal corporation in such county of the streets

and highways under the jurisdiction of such municipal corporation