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Marvin Mandel, Governor 1653
FISCAL YEAR FOR WHICH THE TAX IMPOSED BY THIS
SECTION IS TO BE LEVIED HAVE BEEN RECEIVED
FROM THE PROCEEDS OF THE PAYMENTS OF PRIN-
CIPAL AND INTEREST AS SET FORTH IN SECTION 5 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 COLLECTED IN THE SAID TAX-
ABLE 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, 1973, OR MAY 1 OF ANY SUCCEEDING YEAR
THEREAFTER, THE BOARD OF PUBLIC WORKS SHALL AS-
CERTAIN AS A FACT UPON A CERTIFIED STATEMENT
RENDERED TO SUCH BOARD BY THE STATE COMPTROLLER
THAT PART BUT NOT ALL OF THE FUNDS REQUIRED TO
MEET ALL PAYMENTS OF PRINCIPAL AND INTEREST DUE
ON SUCH BONDS 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 PAYMENTS OF PRINCIPAL
AND INTEREST AS SET FORTH IN SECTION 5 OF THIS ACT.
IN SUCH EVENT, AND UPON THE ASCERTAINMENT OF
SUCH FACT BY THE BOARD OF PUBLIC WORKS, THE GOV-
ERNOR SHALL BY PROCLAMATION ISSUED PURSUANT TO
A RESOLUTION OF THE BOARD OF PUBLIC WORKS PUB-
LICLY DECLARE THAT ONLY SO MUCH OF THE STATE
TAXES PROVIDED FOR IN THIS SECTION SHALL BE LEVIED
OR COLLECTED IN THE TAXABLE YEAR AS SHALL BE NEC-
ESSARY TO MAKE UP THE AMOUNT NECESSARY TO MEET
ALL PAYMENTS OF PRINCIPAL AND INTEREST DUE ON
THE SAID BONDS.
ALL MATTERS COMMITTED BY THIS ACT TO THE DIS-
CRETION OF THE BOARD OF PUBLIC WORKS SHALL BE
DETERMINED BY A MAJORITY OF SAID BOARD.
Sec. 9 8. And be it further enacted, That this Act shall take effect
July 1, 1972.
Approved May 26, 1972.
Sec. 7. And be it further enacted, That if any provisions of this
Act or the application thereof to any person or circumstance is held
invalid for any reason, such invalidity shall not affect the other pro-
visions or any other application of this Act which can be given effect
without the invalid provisions or application, and to this end, all the
provisions of this Act are hereby declared to be severable.
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.
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