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3654 LAWS OF MARYLAND [Ch. 886
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 set during the ensuing taxable year from funds
appropriated by the General Assembly, as provided in
Section 11 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.
SECTION 13. AND BE IT FURTHER ENACTED, That all
matters committed by this Act to the discretion of the
Board of Public Works shall be determined by a majority
of said Board.
SECTION 14. AND BE IT FURTHER ENACTED, That, except
as otherwise indicated herein, moneys derived from the
sale of bonds authorized by this Act shall be used only
for capital improvements and for no other purpose. In
determining whether an expenditure represents a capital
improvement, the Board of Public Works shall be guided by
the principle that a capital improvement is an
improvement, the useful life of which shall be at least
equal to the life, of the bonds by which it is financed.
SECTION 15. AND BE IT FURTHER ENACTED, That, if any
portion (word, sentence, paragraph, proviso or section)
of this Act shall be held invalid for any reason, the
remaining provisions shall remain in full force and
effect, and such invalid [[portions]] portion shall be
considered severed and deleted from this Act.
SECTION 16. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1975.
Approved May 15, 1975.
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