3786

LAWS OF MARYLAND

[Ch. 893

SECTION 7. 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
Section 6 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, declare that the taxes
required by this section shall not be collected or levied
in any such ensuing taxable year.

SECTION 8. 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 9. 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 portion shall be considered
severed and deleted from this Act.

SECTION 10. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1975.

Approved May 15, 1975.