2420

LAWS OF MARYLAND

Ch. 826

dredging of the Bird River and North East Creek in Baltimore
County.

(3)    The payment of any funds under the provisions of
this Act for the purpose of dredging the Bird River and
North East Creek in Baltimore County and the granting of a
license by the Department of Natural Resources shall be
contingent upon:

{a) The approval by the Department of Water
Resources of all plans associated with the dredging of the
Bird River and North East Creek; and

(b) The approval by all appropriate State
agencies of a selected dumping site for the dredged
material.

The Inland Waterways Improvement Association
shall have until June 1, [1978] 1979, to present evidence
satisfactory to the Board of Public Works that the Inland
Waterways Improvement Association received approval by the
Department of Water Resources of all plans associated with
the dredging of Bird River and North East Creek and the
approval by all appropriate State agencies of a selected
dumping site for the dredged material. Upon receiving from
the Board of Public Works a certification of such suitable
evidence on or before June 1, [1978] 1979, the Treasurer of
the State shall spend the proceeds of said loan in
accordance with the other provisions of this Act. If such
satisfactory evidence of securing the above approvals is not
presented to the Board of Public Works on or before June 1,
[1978] 1979, no funds under the provisions of this Act shall
thereafter be paid over to or expended for the purpose of
dredging the Bird River and North East Creek in Baltimore
County.

(4)    If any funds provided by this Act shall not have
been encumbered within three (3) years from the effective
date of this Act, then such funds shall be deemed to have
been abandoned. If the total loan authorized herein shall
have teen issued within three (3) years from the effective
date of this Act, then the amount specified herein for said
abandoned funds shall be transferred to the Annuity Bond
Fund and shall be applied to the debt service requirements
of the State. If, however, the total loan authorized herein
shall not have been issued within three (3) years from the
effective date of this Act, then the total issuable bonds
authorized herein shall be reduced by the amount specified
herein for said abandoned funds.

for the purposes of this Act, funds are encumbered when
a project is approved for a grant under this program for a
specific amount by actions of the Board of Public Works.

(5)    There is hereby levied and imposed an annual
State tax on all assessable property in the State in rate
and amount sufficient to pay the principal of and interest
on the bonds as and when due and until paid in full, such