3772

LAWS OF MARYLAND

[Ch. 892

Montgomery County and the County [Commissioners] COUNCIL
of Prince George's County can no longer levy and collect
the three cent [(3¢)] tax as provided for in [said] THE
subsection, then [and thenceforth] the repeal of Section
5 of Chapter 448 of the Laws of the General Assembly of
Maryland of 1927, by Chapter 714 of the Acts of the
General Assembly of 1939, and by Chapter 992 of the Acts
of the General Assembly of 1943, shall terminate; and
[said] THE repeal shall [then and thenceforth] be treated
as no longer in effect, and [then and thenceforth said]
Section 5 of Chapter 448 of the Acts of 1927 shall be
deemed reenacted and in full force and effect.

(c)    At least [thirty (30)] 30 days prior to the
[ends] END of the fiscal years of Montgomery and Prince
George's Counties, respectively, the Commission shall
certify and submit to the appropriate fiscal officers of
[said] THE counties the unexpended balances in the hands
of the Commission from moneys received by the Commission
from the administrative taxes theretofore levied by the
Counties, respectively, as hereinabove provided. If the
unexpended balance with respect to either county [shall
exceed] EXCEEDS the sum of [one hundred thousand dollars
($100,000.00) ] $100,000, that county [if it so elects,]
may deduct [said] THE excess from its estimate of the
amount of money which will be raised in the next
succeeding fiscal year by the levy of the administrative
tax; and the county in [such] THAT fiscal year[,] may
levy the tax at a rate which the county estimates will
produce an amount equal to the difference so arrived at,
which amount will then be the amount which the county is
obligated to pay the Commission for administration in
[such] THAT fiscal year pursuant to this section.

(d)    The Montgomery County Council is and the Board
of County Commissioners of Prince George's County are
authorized and directed to fix the amount of the
administrative tax authorized in this section on or
before the 20th day of the month immediately prior to the
month in which the Commission's fiscal year begins. On
or before the 5th day of [said] THAT month prior to the
beginning of the Commission's fiscal year, the Commission
shall submit to the County Council and the Board of
County Commissioners its complete budget estimates for
the forthcoming fiscal year along with suitable
statements in justification of the administrative budget
and tax rate requested by the Commission.

(e)    The Commission [is authorized and empowered]
from time to time in any fiscal year [to] MAY borrow such
sums of money on promissory notes, to be known as tax
anticipation certificates of indebtedness, to bear
interest at not exceeding six [per centum (6%) per annum]
PERCENT A YEAR, and to be signed by the chairman and the