1308                             Laws of Maryland                        Ch. 534

Sec. 6. And be it further enacted, That all proceeds received from
the counties of this State which have been granted financial assist-
ance under the provisions of this Act and from the City of Baltimore
if said city has been granted financial assistance under this Act,
under agreements signed with the aforesaid counties or the aforesaid
city, all as more particularly provided in Section 5 of this Act, shall
be deposited in the Annuity Bond Fund by the State Comptroller;
such fund to be used only for the payment of the principal and in-
terest on any and all certificates issued by the State of Maryland
pursuant to the terms of this Act.

Sec. 7. And be it further enacted, That until all of the interest on
and principal of any certificates issued under this Act have been
paid in full, there is hereby levied and imposed an annual State tax
on each $100 of assessable property at the rate to be determined in
the following manner: on or before May 1, 1971, and on or before
May 1, in each taxable year thereafter, the Board of Public Works
shall certify to the governing bodies of each of the counties and
Baltimore City the rate of State tax on each $100 of assessable prop-
erty 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 heretofore authorized by
resolution of the Board of Public Works to be issued and the govern-
ing bodies of each of the counties and Baltimore City shall forthwith
levy and collect such tax at such rate. Provided, however, that the
levy or levies provided for in this section shall not be made and the
said tax or taxes shall not be collected in any year if before May 1,
1971, and before May 1 of each 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 payment of principal
and interest on the certificates issued pursuant to the terms of this
Act have been met during the current year from the payments re-
ceived from each of the counties and the City of Baltimore, as more
particularly provided in Section 5 of this Act. Upon the ascertain-
ment of such fact by the Board of Public Works, the Governor shall,
by proclamation issued pursuant to a resolution of the Board of Pub-
lic Works, publicly declare that the State taxes provided for in this
section shall not be collected or levied in any such succeeding year.

SEC. 8. And be it further enacted, That all matters committed by
this Act to the discretion of the Board of Public Works shall be
determined by a majority of said Board.

SEC. 9. And be it further enacted, That this Act shall take effect
June 1, 1970.

Approved May 5, 1970

CHAPTER 534
(Senate Bill 10)

AN ACT TO REPEAL SECTION 59B OF ARTICLE 41 OF THE
ANNOTATED CODE OF MARYLAND (1965 REPLACEMENT
VOLUME AND 1969 SUPPLEMENT) TITLE "GOVERNOR—