Ch. 596

LAWS OF MARYLAND

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] SUBTITLE 2 OF TITLE 13 OF THE TAX-PROPERTY ARTICLE 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 or 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] SUBTITLE 2 OF TITLE 13 OF THE TAX-PROPERTY ARTICLE. 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 publicly declare
that only so much of the State taxes provided for in this section

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