1076                                      LAWS OF MARYLAND                                Ch. 481

current year as shall be necessary to make up the amount necessary 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 collections
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 provided, 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 or 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 extend 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 Indebtedness 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 recreation land and open space, as provided under "Program Open
Space." Any proceeds of such tax which may for any reason not be expended or
applied as herein provided, shall be transferred to the Annuity Bond Fund and
shall be applied to the debt service requirements of the State.

SECTION 2. AND BE IT FURTHER ENACTED, That new Section HE be
and it is hereby added to Chapter 403 of the Acts of the General Assembly of
1969, [[as amended by Chapter 2 and 4 of the Acts of the Special Session of
December 16, 1969, as amended and supplemented by Chapter 702 of the Acts of
1970 and by Chapter 730 of the Acts of 1971, and by Chapter 353 of the Acts of
1972, and as amended by Chapter 626 of the Acts of 1972,]] to follow
immediately after Section 11D thereof as added by Chapter 353 of the Acts of
1972, and to read as follows:

11E.

THAT, FOR THE FISCAL YEAR 1974 OF THE FUNDS
APPROPRIATED BY SECTION 5 OF THIS ACT, THERE SHALL BE
ALLOCATED A TOTAL OF $23,000,000 TO BE USED EXCLUSIVELY BY
THE STATE AGENCIES AND LOCAL GOVERNING BODIES
HEREUNDER. FROM THE FUNDS AVAILABLE UNDER THIS
PROGRAM FOR THE FISCAL YEAR 1974 THE FOLLOWING STATE
AGENCIES AND BALTIMORE CITY ARE HEREBY AUTHORIZED TO
EXPEND THE FOLLOWING AMOUNTS FOR THE FOLLOWING
PROJECTS: