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100
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Ch. 13
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LAWS OF MARYLAND
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(4) IN ANY YEAR IN WHICH ANY BONDS COVERED BY
THE AGREEMENT ARE OUTSTANDING AND UNPAID, THE COUNTY MAY
MAKE AN ANNUAL LEVY ON ITS TAXABLE BASIS IN THE RATE AND
AMOUNT SUFFICIENT TO PROVIDE A SUM EQUAL TO THE AMOUNT
TO BE WITHHELD BY THE STATE COMPTROLLER, AS PROVIDED IN
ITEM (3) OF THIS SUBSECTION, IN WHICH EVENT THE STATE
COMPTROLLER MAY NOT WITHHOLD ANY MORE OF THE HIGHWAY
USER REVENUES OF THE COUNTY THAN NECESSARY TO ASSURE
PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS
IN THE CURRENT FISCAL YEAR AND THE NEXT SUCCEEDING FISCAL
YEAR; AND
(5) AT REGULAR INTERVALS, THE STATE
COMPTROLLER SHALL PAY FROM THE SINKING FUND TO THE
DEPARTMENT AMOUNTS SUFFICIENT TO PAY THE PRINCIPAL OF
AND INTEREST ON THE BONDS.
REVISOR'S NOTE: This section presently appears as
Art. 89B, §211G-1(b)(6)(i) through (v).
Throughout this section, the ten "outstanding
and unpaid", which is defined in §3-101 of
this title, is substituted for the less exact
"outstanding".
In subsection (a) of this section, the present
reference to an agreement "in accordance with
law" is deleted as an unnecessary statement of
the obvious.
In subsection (b)(3) of this section, the word
"may" is substituted for "authorized and
empowered"; in this regard, see revisor's note
to §3-201 of this title.
In subsection (b)(3) of this section, the
defined term "outstanding and unpaid" is
substituted for the present reference to
highway construction bonds "issued under
§211—G" of Art. 89B; that section now appears
in Section 5 of Ch. 608, Acts of 1976. Also,
reference is added to "County Transportation
Bonds", which are the successors to the former
county highway construction bonds; this
conforms to the similar references in
§3-306(a) and elsewhere in this subtitle.
The only other changes are in style.
3-308. EXTRAORDINARY WITHHOLDING BY COMPTROLLER.
IN ANY FISCAL YEAR, IF THE COUNTY FAILS TO LEVY THE
TAX AUTHORIZED IN ITS AGREEMENT WITH THE DEPARTMENT AND
IF THE COUNTY'S SHARE OF HIGHWAY USER REVENUES IS
INSUFFICIENT TO MEET THE DEBT SERVICE ON BONDS IN THAT
YEAR, THE STATE COMPTROLLER, NOTWITHSTANDING THE
PROVISIONS OF TITLE 8, SUBTITLE 4 OF THIS ARTICLE ON THE
DISTRIBUTION OF HIGHWAY USER REVENUES, MAY WITHHOLD FROM
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