1564                             Laws of Maryland                      [Ch. 730

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 thereafter,
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 In-
debtedness issued pursuant to this Act have been paid, or that part
but not all of the funds required to meet all payments or 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 resolution 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 neces-
sary to meet all payments of principal and interest due on the said
bonds or Certificates of Indebtedness in the preceding year, after
making allowance for collections in such year from the proceeds of the
tax imposed under provisions of said Section 278A and from any
previous levy of the tax provided for in this section, and to meet all
payments of principal and interest due on said bonds or Certificates
of Indebtedness in the current year after making allowance for
estimated collection in the current year from the proceeds of the
tax imposed by said Section 278A.

Any taxes collected to pay the principal of or interest on said bonds
or Certificates of Indebtedness, as hereinabove in this section pro-
vided, shall be credited by the State Comptroller, on or before the
15th day of April of the year following the year in which such taxes
are collected, to a special fund account as provided for in Section 10
in this Act, and as much as is required for the payment of principal
of and interest on such bonds or Certificates of Indebtedness shall be
transferred to the Annuity Bond Fund.

Until all of the Bonds or Certificates of Indebtedness issued under
the provisions of this Act and the interest thereon, shall be paid or
provision of such payment shall be made, the proceeds of so much of
the tax on written instruments as imposed by Section 278A of Article
81 of the Annotated Code of Maryland as set forth in Section 10
of this Act, received in each year as is required to make the principal
and interest payments due in that year (to the extent not previously
set aside) and in the next succeeding year shall be set aside by the
State Comptroller and transferred to the Annuity Bond Fund for the
purpose of making such principal and interest payments. The balance
of the proceeds of such tax, if any, shall remain in the special fund
account on the books of the State Comptroller, provided, however,
that if the State Comptroller determines at any time or from time to
time that a portion thereof will not be required for the payment of
the principal of or interest on the Bonds or Certificates of Indebted-
ness issued under the provisions of this Act, he shall certify the
amount of such portion, which shall thereby be made available for
the funding of projects for the acquisition and development of recrea-
tion land and open space, as provided under "Program Open Space."