MARVIN MANDEL, Governor

2485

of each county the highway Maintenance needs of [such]
THE county, THE OTHER TRANSPORTATION NEEDS OF THE COUNTY
and such other factors as [it] THE DEPARTMENT deems
appropriate.

(6) Upon making [said] THIS computation the
Department shall notify each such county so desiring to
participate, as aforesaid, of the amount of bonds which
the Department will issue in said fiscal year on behalf
of said county, as above determined, and said Department
shall then issue and sell such amount of its bonds under
this section as a part of the next series of such bonds,
and shall pay the net proceeds of such bonds to each such
county after deducting from each a proportionate share of
the cost of the issuance of said bonds and any bonds
issued under the provisions of this section shall become
the obligations of the Department and shall not be
considered a debt of any county for the purpose of
determining the debt limitations, and further provided
that, prior to said sale, the Department and said county
shall have entered into an agreement, in accordance with
law, which shall specify that:

(i) The amount of bonds to be issued on behalf of
said county, as herein provided, shall be repaid,
together with interest, within fifteen (15) years from
their date or dates of issue;

(ii) Each issue of bonds under this section, on
behalf of any such county, shall first be approved prior
to the sale thereof by resolution of the Board of Public
Works;

(iii) The State Comptroller shall be authorized and
empowered to withhold and deposit moneys to the credit of
a sinking fund established for the purpose of paying the
principal of and interest on such bonds, from any and all
funds allocable to such county under § 33 or 34 of this
article, after provision for sinking fund requirements on
county highway construction bonds authorized and issued
under § 211—G of this article, until an amount equal to
such debt service payable in the current and next
succeeding fiscal year shall have been accumulated, and
thereafter an amount equal to debt service on said bonds
in such succeeding fiscal year, unless said county shall
elect to deposit said amount with the State Comptroller
pursuant to subparagraph (iv) hereof, provided however
that no portion of said funds may be so withheld that
have been previously pledged for debt service on
outstanding bonds of said county, as provided in said §
34;

(iv) In any year that any of said bonds covered by
said agreement are outstanding, said county may make an