2824

LAWS OF MARYLAND

[Ch. 587

Mary's City Commission of at least an equal and matching
fund for this project from private and other public
sources. The said St. Mary's City Commission shall have
until June 1, 1977, to present evidence satisfactory to
the Board of Public Works that it has raised at least
this equal and matching fund for the purpose of
financing, [[research, investigation, study, planning,
design, engineering,]] construction and equipping of a
replica of [[the]] a Seventeenth Century pinnace or bark,
similar to the "Dove". Upon receiving from the Board of
Public Works a certification of such suitable evidence on
or before June 1, 1977, the Treasurer of the State is
hereby authorized, empowered and directed to proceed to
spend the proceeds of said loan in accordance with the
other provisions of this Act. If such satisfactory
evidence of the raising of at least an equal and matching
fund for this project is not presented to the Board of
Public Works on or before June 1, 1977, no funds under
the provisions of this Act shall thereafter be paid over
to or expended for the purpose of assisting in financing,
[[research, investigation, study, planning, design,
engineering,]] construction and equipping of a replica of
[[the]] a Seventeenth Century pinnace or bark, similar to
the "Dove".

SECTION 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, 1976, 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, 1976, 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