1128                                      LAWS OF MARYLAND                                Ch. 504

SECTION. 7. AND BE IT FURTHER ENACTED, That all funds which may
be appropriated at any time or from time to time by the General Assembly in any
Annual State Budget Bill for the payment of principal and interest on bonds issued
pursuant to this Act shall be deposited in the Annuity Bond Fund by the State
Comptroller to be applied to the payment of principal and interest on bonds issued
pursuant to this Act.

SECTION [[7]] 8, And be it further enacted, That until all of the interest on
and principal of any bonds issued under this Act shall 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,
1974, and on or before May 1 in each taxable year thereafter, the Board of Public
Works shall [[clarify]] 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 bonds theretofore issued or authorized
by resolution of the Board of Public Works to be issued, and the governing bodies
of each of the counties and of Baltimore City shall forthwith levy and collect such
tax at such rate.

Provided, however, that the levy or levies required by this section shall not be
made and the tax or taxes shall not be collected in any year to the extent that on
or before May 1, 1974, and on or before May 1 in each taxable year thereafter the
Board of Public Works determines upon a. certified statement rendered to the
Board by the State Comptroller that payment of principal and interest on the
bonds issued pursuant to this Act will be met during the ensuing taxable year from
funds appropriated by the General Assembly, as provided in Section 7 of this Act.
Upon, and to the extent of. such determination by the Board of Public Works, the
Governor shall, by proclamation issued pursuant to a resolution of the Board of
Public Works, declare that the taxes required by this section shall not be collected
or levied in any such ensuing taxable year.

[[All]] SECTION 9. 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.

SECTION 10. 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.

SECTION [[8]] 11. And be it further enacted, That this Act shall take effect
[[July]] June 1, 1973.

Approved May 21, 1973.

CHAPTER 505
(House Bill 46)

AN ACT to add new Section [[55-1/2]] 55B to Article 78 of the Annotated Code
of Maryland (1969 Replacement Volume and 1972 Supplement, title "Public
Service Commission Law," subtitle "Public Service Companies," to follow
immediately after Section [[55]] 55A thereof, and to be under the new
subheading "Sewage Disposal Companies," to provide that the Public Service