1306                             Laws of Maryland                       Ch. 533

Sec. 5. And be it further enacted, That the actual cash proceeds of
the sale of the Certificates of Indebtedness to be issued under this
Act shall be paid to the Treasurer of the State upon the warrant of
the Comptroller and such proceeds shall be used exclusively for the
following purposes, to wit:

1.   The Comptroller immediately upon the sale of and payment
for said certificates, first, shall return to and credit the Treasury for
a sum equivalent to the amount expended, as provided in Section 4
of this Act.

2.   The remainder of the proceeds of such loan shall be credited
on the books of the State Comptroller, to be expended to supplement
the financing of the construction of public school buildings and
public school facilities, and to supplement the financing COST of the
acquisition of such real estate as may be required in connection there-
with by each of the counties in this State and by the Mayor and City
Council of Baltimore. Such financial assistance shall be granted for
the purposes stated hereinabove to each of the counties in this State
and to the Mayor and City Council of Baltimore upon the following
terms and conditions:

(a)    Whenever any county or the City of Baltimore desires to
participate in the financial assistance which is provided for under
the terms and conditions of this Act, said county or city, as the case
may be, shall certify a statement to the State Board of Education
showing: (1) the number, class, type and character of all public
school buildings or public school facilities required by the said county
or the said city for which funds are currently unavailable; (2) the
amount, type and character of real estate necessary in conjunction
therewith; (3) the total estimated cost of said school buildings,
school facilities and real estate; (4) the total issued and outstanding
bonded indebtedness of said county or city; (5) the total assessable
taxable basis of said county or city as determined on the last pre-
ceding date of finality; and (6) such other information as may be
required by regulations passed by the State Board of Education.

(b)     Upon receipt of the certified statement as specified in sub-
paragraph (a) of this subsection, the State Board of Education
shall make a written finding of fact which shall be addressed to the
Board of Public Works, said finding of fact to be in the form of a
recommendation to the Board of Public Works, advising said Board
which of the requests for financial assistance made by any of the
counties or made by the City of Baltimore, as aforesaid, should be
allowed and which of such requests for financial assistance should be
denied. In making the aforesaid finding of fact, the State Board of
Education shall, at the request of the Board of Public Works, deter-
mine a priority of need for school buildings as between any county
in the State or as between any county in the State and the City of
Baltimore. No grant of financial assistance as provided for in this
Act shall be allowed until such grant has been finally ratified and
approved by the Board of Public works WORKS. The decision of the
Board of Public Works in this regard shall be in such form as the said
Board shall deem advisable and proper and shall be final and con-
clusive upon all parties concerned.

(c)    The amount of financial assistance granted to any county
or to the City of Baltimore under the terms and conditions of this
Act shall in no case exceed an amount calculated as follows: