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MARVIN MANDEL, Governor 415
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As to subsection (a) of this section, see
revisor's note to §8—501 of this subtitle.
8-504. SOURCES OF MATCHING FUNDS FOR FEDERAL ACTS.
(A) POWER OF POLITICAL SUBDIVISIONS TO RAISE FUNDS.
(1) EACH POLITICAL SUBDIVISION OF THIS STATE
MAY RAISE FUNDS TO OBTAIN THE BENEFITS OF THE FEDERAL
ACTS BY:
(I) ISSUING BONDS, INTERIM CERTIFICATES, AND
OTHER EVIDENCES OF DEBT OR OBLIGATION; AND
(II) TAXATION.
(2) BONDS MAY BE ISSUED UNDER THIS SUBSECTION
NOTWITHSTANDING ANY DEBT OR OTHER LIMITATION SET BY ANY
OTHER LAW.
(B) HIGHWAY USER REVENUES.
IF FEDERAL FUNDS AVAILABLE TO THIS STATE UNDER THE
FEDERAL ACTS ARE ALLOCABLE TO A POLITICAL SUBDIVISION OF
THIS STATE, BUT THE POLITICAL SUBDIVISION HAS NOT
PROVIDED FOR NECESSARY MATCHING FUNDS IN ANY OTHER MANNER
PERMITTED BY THIS SUBTITLE, THE ADMINISTRATION, THE STATE
TREASURER, AND THE STATE COMPTROLLER MAY AUTHORIZE THE
POLITICAL SUBDIVISION TO USE ITS SHARE OF HIGHWAY USER
REVENUES TO PROVIDE THE MATCHING FUNDS NECESSARY TO
SECURE THESE FEDERAL FUNDS.
(C) STATE FUNDS.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS TITLE,
IF ANY FEDERAL FUNDS AVAILABLE FOR A STATE HIGHWAY
PROJECT REQUIRE MATCHING STATE FUNDS, THE ADMINISTRATION
MAY PROVIDE THE NECESSARY MATCHING FUNDS BY USING ANY
STATS FUNDS IT IS AUTHORIZED BY LAW TO USE FOR STATE
HIGHWAY PROJECTS.
REVISOR'S NOTE: This section is new language derived
without substantive change from the first two
sentences of Art. 89B, §76(3), and Art. 89B,
§76(5).
In subsections (b) and (c) of this section,
the more succinct term "matching funds" is
substituted for the phrases "funds ... to
equalize ... the ... federal funds" and
"equalized or matched ... funds".
In subsection (b) of this . section, the term
"highway user revenues" is substituted for the
present, obsolete reference to the "Gasoline
Tax Fund and other funds available ... under
... {Art. 89B}". Highway user revenues are
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