Marvin Mandel, Governor                        1563

provisions without change, and by adding new Section 11C, to the Act,
which allocates funds for the fiscal year 1972; now, therefore

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 6 and 7 of Chapter 403 of the Acts of the General
Assembly of 1969, as amended by Chapter 4 of the Acts of the Special
Session of December 16,1969, and as repealed and re-enacted without
change by Chapter 702 of the Acts of 1970, be and they are hereby
repealed and re-enacted, without change, to read as follows:

6.

That for the primary source of payment of the principal of and the
interest on the bonds or Certificates of Indebtedness issued under the
provisions of this Act as the same become due and payable, there
shall be and is hereby laid an annual tax which shall consist of such
amounts as may be necessary of the proceeds of the tax on written
instruments, imposed pursuant to the provisions of Section 278A of
Article 81 of the Annotated Code of Maryland as set forth in Section
10 of this Act.

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 princi-
pal, 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 sec-
tion 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 reso-
lution of the Board of Public Works, publicly declare that the State
taxes provided for in this section shall not be levied or collected in the
said taxable year.