1394

LAWS OF MARYLAND

Ch. 498

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

(6) THE COUNTY EXECUTIVE AND COUNTY COUNCIL OF
BALTIMORE COUNTY SHALL HAVE UNTIL JUNE 1, 1981, TO PRESENT
EVIDENCE SATISFACTORY TO THE BOARD OF PUBLIC WORKS THAT THE
COUNTY EXECUTIVE AND COUNTY COUNCIL OF BALTIMORE COUNTY HAS
RECEIVED APPROVAL BY THE WATER RESOURCES ADMINISTRATION OF
ALL PLANS ASSOCIATED WITH THE DREDGING OF 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, 1981, 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, 1981, NO FUNDS UNDER THE PROVISIONS OF THIS ACT
SHALL THEREAFTER BE PAID OVER TO OR EXPENDED FOR THE PURPOSE
OF DREDGING NORTH EAST CREEK IN BALTIMORE COUNTY.

[(4)] (7) (A) If any funds provided by this Act shall
not have been encumbered within [three (3)] 6 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 been issued within [three (3)] 6 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)] 6 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.

(B) 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)] (8) 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
principal to be discharged within fifteen years of the date
of issue of the bonds.

[(6)] (9) This Act shall take effect June 1, 1976.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1978.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1979.