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Session Laws, 1974
Volume 713, Page 1995   View pdf image
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MARVIN MANDEL, Governor                             1995

of the Federal funds to apply to the cost of the
particular project. In seeking approval of the Board of
Public Works for award of a contract under a specific
appropriation under this Act, the Maryland Environmental
Service shall formally advise the Board of Public Works
that efforts have been made through proper administrative
procedures to obtain Federal funds, and the reason, if
any, why the Federal funds were not obtained.

SECTION 10. 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 11. 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, 1975, and
on or before May 1 in each taxable year thereafter, the
Board of Public Works shall 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, 1975, 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
provided in accordance with Section 5 (b) of this Act or
from funds appropriated by the General Assembly, as
provided in Section 10 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,
[[publicly]] declare that the taxes required by this
Section shall not be collected or levied in any such
ensuing taxable year.

 

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Session Laws, 1974
Volume 713, Page 1995   View pdf image
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