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Session Laws, 1974
Volume 713, Page 2127   View pdf image
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MARVIN MANDEL, Governor                             2127

(1969), the General Assembly of Maryland can make the
annual appropriations intended to be made under the Act
without in the same bill expressly providing for the
collection of an annual tax or taxes sufficient to cover
the debt service on the bonds which will be sold under
the Act to fund these appropriations; and

WHEREAS, The General Assembly wishes to resolve any
such question by repealing the tax provisions of the Act,
being Sections 6 and 7 thereof, as amended by Chapter 4
of the Acts of the Special Session of December 16, 1969,
and as [[repealed and re—enacted]] amended without change
by Chapter 702 of the Acts of 1970, Chapter 730 of the
Acts of 1971, Chapter 353 of the Acts of 1972, and
Chapter 481 of the Acts of 1973, and by re—enacting those
provisions without change, and by adding new Section 11F
to the Act, which allocates funds for the fiscal year
1975[[.]]: and

WHEREAS, There is a need to increase the total

amount of funds which the State of Maryland is authorized

to borrow pursuant to the Outdoor Recreation Land Loan of
1969; now, therefore

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 6 and 7 of Chapter 403 of the
Acts of 1969, as they were amended by Chapter 4 of the
Acts of the Special Session of December 16, 1969, and as
repealed and re—enacted without change by Chapter 702 of
the Acts of 1970, Chapter 730 of the Acts of 1971,
Chapter 353 of the Acts of 1972, and Chapter 481 of the
Acts of 1973, be and they are hereby repealed and
re—enacted, without change, and all to read as follows:

Chapter 403
6.

That for the primary source of payment of the
principal of and the interest on the bonds or
Certificates of Indebtedness issued under the provisions
of this Act as the same become due and payable, there
shall be and is hereby laid an annual tax which shall
consist of such amounts as may be necessary of the
proceeds of the tax on written instruments, imposed
pursuant to the provisions of Section 278A of Article 81
of the Annotated Code of Maryland as set forth in Section
10 of this Act.

7.

That, in addition, and as the secondary source of

 

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Session Laws, 1974
Volume 713, Page 2127   View pdf image
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