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591
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MARVIN MANDEL, Governor
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Secretary of Transportation from time to time subject to
the limitations herein provided. However, the bonds
issued pursuant to this [subtitle] SECTION shall not be
included in or be considered a part of the amounts
authorized pursuant to the authority granted in § 211B of
[this article] ARTICLE 89B OF THE ANNOTATED CODE OF
MARYLAND (1957 EDITION, AS AMENDED).
(b) The authority herein granted shall be deemed to
be continuing from year to year tut limited in the
following manner:
(1) Any such county, not later than April 1 of
each year, may notify the Department of its desire to
participate in the proceeds of a series of bonds to be
issued under this [subtitle] SECTION in the next
succeeding fiscal year and the amount of such
participation proposed.
(2) Upon receipt of such notification, the
Department shall determine the total proceeds of the
highway user revenues (as defined in § 38A of [this
article] ARTICLE 89B OF THE ANNOTATED CODE OF MARYLAND
(1957 EDITION, AS AMENDED)) pursuant to the provisions of
§ 33 or § 34 of [this article] ARTICLE 89B OF THE
ANNOTATED CODE OF MARYLAND (1957 EDITION, AS AMENDED), as
the case may be, exclusive of any amounts so distributed
to any municipalities in said county.
(3) The Department shall next determine the
total amount of bonds issuable under this section by said
county which could be issued in the discretion of the
Department, with adequate annual debt service coverage,
from the annual amount of the highway user revenues so
allocated to said county after providing the annual debt
service cost of any outstanding bonds heretofore issued
by the Commission for such county to which its share of
the said highway user revenues has been pledged provided,
however, the Department shall not issue bonds for any
such county where its latest fiscal year share of highway
user revenues is less than twice its annual debt service
requirement for county highway construction bonds and
county transportation bonds (debt service requirement
shall be deemed to mean the annual principal and interest
requirements to retire such bonds).
(4) Subject to annual recomputation, the
maximum amount of the bonds authorized by this section
which the Department may issue on behalf of each said
county, as above computed, shall be the limit of
participation for such county under the provisions of
this section.
(5) With respect to any such series of bonds
authorized under this section, the Department may, in its
discretion, limit the participation of any such county in
said series. The Department shall take into
consideration, in determining the amount of participation
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