2486                                               LAWS OF MARYLAND                         [Ch. 726

Treasurer of the State upon the warrant of the
Comptroller out of the proceeds of the sale of said bonds
for the payment of the expense of engraving, printing and
other outlays connected with the issue of the loan hereby
authorized, and for the payment of the advertising
directed by this Act, and all other incidental expenses
connected with the execution of its provisions in
connection with said loan.

SECTION 5. AND BE IT FURTHER ENACTED, That the
actual cash proceeds of the sale of the bonds to be
issued under this Act shall be paid to the Treasurer of
the State upon the warrant of the Comptroller and such
proceeds shall be used exclusively for the following
purposes, to wit:

(1)    The Comptroller, immediately upon the sale of
and payment for said bonds, first, shall return to and
credit the Treasury for a sum equivalent to the amount
expended under Section 4 of this Act.

(2)    The remainder of the proceeds of such loan
shall be credited on the books of the State Comptroller,
to be expended as needed by the State, upon approval by
the Board of Public Works, to assist in financing the
construction of streets, roads, and public buildings by
municipal corporations in the State, upon the following
terms and conditions:

(a) Whenever any municipal corporation desires to
participate in the financial assistance which is provided
for under the terms and conditions of this Act, said
municipal corporation shall certify a statement to the
Board of Public Works showing: (1) the number and type of
all municipal streets, roads, and public buildings
required by the said municipal corporation for which
funds are desired; (2) the amount, type and character of
real estate [[necessary]] required by the municipal

corporation for which funds are desired in conjunction

therewith; (3) the total estimated cost of said projects
and real estate; (4) the total issued and outstanding
bonded indebtedness of said municipal corporation; (5)
the total assessable taxable basis of said municipal
corporation as determined on the last preceding date of
finality; and (6) such other information as may be
required by the Board of Public Works.

The Department of State Planning, in cooperation

with the Department of General Services and the

Department of Transportation, shall review the certified
statement specified in paragraph (a) of this subsection