Marvin Mandel. Governor                          1979

7.

That, in addition, and as the secondary source of payment, there
shall be and is hereby levied and imposed an annual State tax on each
one hundred dollars of assessable property at a rate to be determined
in the following manner: on or before May 1, 1970, and on or before
May 1 in each year thereafter, the Board of Public Works shall cer-
tify to the governing bodies of each of the counties and of Baltimore
City the rate of state tax on each one hundred dollars of assessable
property necessary to produce revenue to meet all interest and prin-
cipal, if any, which will be payable to the close of the next ensuing
taxable year on all bonds or certificates of indebtedness theretofore
issued or theretofore authorized by resolution of the Board of Public
Works to be issued, under the provisions of this Act, 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 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 all payments of principal and
interest due and payable in that preceding year on the bonds or
Certificates of Indebtedness issued pursuant to this Act 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 278A of
Article 81 of the Annotated Code of Maryland as set forth in Section
10 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 col-
lected in the said taxable 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 there-
after, 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 Act 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 Indebtedness in that
fiscal year for which the tax imposed 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 278A of
Article 81 as set forth in Section 10 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 reso-
lution 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