|
|
|
|
|
|
|
|
|
|
|
|
|
2228 LAWS OF MARYLAND Ch. 679
tax on each one hundred dollars of assessable property at a rate
to be determined in the following manner: on or before May 1,
1970, and on or before May 1 in each year thereafter, the Board
of Public Works shall certify to the governing bodies of each of
the counties and of Baltimore City the rate of State tax on each
one hundred dollars of assessable property necessary to produce
revenue to meet all interest and principal, if any, which will be
payable to the close of the next ensuing taxable year on all
bonds or Certificates of Indebtedness theretofore issued or
theretofore authorized by resolution of the Board of Public Works
to be issued, under the provisions of this Act, and the governing
bodies of each of the counties and Baltimore City shall forthwith
levy and collect such tax at such rate.
Provided, however, that the levy or levies provided for in
this section shall not be made and the said tax or taxes shall
not be collected in any year if before May 1 of the preceding
year or before May 1 of any succeeding year thereafter, the Board
of Public Works shall ascertain as a fact upon a certified
statement rendered to such Board by the State Comptroller that
all payments of principal and interest due and payable in that
preceding year on the bonds or Certificates of Indebtedness
issued pursuant to this Act have been paid and that funds
sufficient to meet all payments of principal and interest due and
payable on such bonds in the fiscal year for which the tax
imposed by this section is to be levied have been received and
set aside for that purpose in the Annuity Bond Fund, from the
proceeds of the tax imposed under provisions of Section 278A of
Article 81 of the Annotated Code of Maryland as set forth in
Section 10 of this Act. Upon the ascertainment of such fact by
the Board of Public Works, The Governor shall, by proclamation
issued pursuant to resolution of the Board of Public Works,
publicly declare that the State taxes provided for in this
section shall not be levied or collected in the said taxable
year.
Provided, further, however, that the levy or levies provided
under this section to be made in any year shall be made only in
part, and the said tax or taxes shall be collected only in part,
if before May 1 of the preceding year, or before May 1 of any
succeeding year thereafter, the Board of Public Works shall
ascertain as a fact upon a certified statement rendered to such
Board by the State Comptroller that part but not all of the
payments of principal and interest due and payable in that
preceding year on the bonds or Certificates of Indebtedness
issued pursuant to this Act have been paid, or that part but not
all of the funds required to meet all payments of principal and
interest due on such bonds of Certificates of Indebtedness in
that fiscal year for which the tax imposed by this section is to
be levied have been received and set aside for that purpose, from
the proceeds of the tax imposed under provisions of the said
Section 278A of Article 81 as set forth in Section 10 of this
Act. In such event, and upon the ascertainment of such fact by
the Board of Public Works, the Governor shall by proclamation
issued pursuant to a resolution of the Board of Public Works
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
