350                              Laws of Maryland                       Ch. 102

Sec. 11. And be it further enacted, That until all of the in-
terest 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 property necessary to produce revenue to meet interest
and principal which will be payable to the close of the next ensuing
taxable year on all certificates theretofore issued or heretofore au-
thorized by resolution of the Board of Public Works to be issued and
the governing bodies of each of the counties and Baltimore City
shall forthwith levy and collect such tax at such rate.

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. 12. And be it further enacted, That, except as otherwise in-
dicated herein, moneys derived from the sale of Certificates of In-
debtedness authorized by this Act shall be used only for capital
improvements and for no other purpose. In determining whether an
expenditure represents a capital improvement, the Board of Public
Works shall be guided by the principle that a capital improvement
is an improvement, the useful life of which shall be at least equal to
the life of the bonds or Certificates of Indebtedness by which it is
financed.

SEC. 13. And be it further enacted, That, if any portion (word,
sentence, paragraph, proviso or section) of this Act shall be held
invalid for any reason, the remaining provisions shall remain in full
force and effect, and such invalid portion shall be considered severed
and deleted from this Act.

Sec. 14. And be it further enacted, That this Act shall take effect
June 1, 1970.

Approved April 15, 1970

CHAPTER 102
(House Bill 1158)

AN ACT to authorize the creation of a State debt in the aggregate
amount of Twenty-Five Million Dollars ($25,000,000) to be known
as the "Urban Mass Transit Loan of 1970," the proceeds thereof
to be used to supplement federal funds and to provide grants A
GRANT to the Metropolitan Transit Authority pursuant to Ar-
ticle 64B of the Annotated Code of Maryland (1969 Cumulative
Supplement) for the acquisition and improvement of transit facili-
ties and to provide funds A GRANT to the Washington Suburban
Transit District, IN CONFORMANCE WITH SECTION 27(B)
OF ARTICLE 64B OF THE ANNOTATED CODE OF MARY-
LAND (1969 SUPPLEMENT), for payment of a portion of the