BLAIR LEE III, Acting Governor                        2859

Supplement, as amended from time to time).

The bonds issued to evidence this loan or

installments thereof may be sold as a single issue, or may

be consolidated and sold as part of a single issue of bonds
under § 2B of Article 2 1 of the Code.

(2) The actual cash proceeds of the sale of the bonds
shall be paid to the Treasurer and shall be first applied to
the payment of the expenses of issuing and delivering the
bonds unless funds for this purpose are otherwise provided
and thereafter shall be credited on the books of the State
Comptroller and expended, upon approval by the Board of
Public Works, for the following public purposes, including
any applicable architects' and engineers' fees: financing
the construction of public school buildings and public
school capital improvements in this State in accordance with
the provisions of Section 130A of Article 77 of the
Annotated Code of Maryland (1975 Replacement Volume and 1976
Supplement, as from time to time amended or replaced)-

(3) 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.

(4) NONE OF THE $4,648,000 ALLOCATED FOR THE
RENOVATION OF ALLEGANY HIGH SCHOOL IN CUMBERLAND SHALL BE
EXPENDED UNTIL A FEASIBILITY STUDY ON BUILDING A NEW SCHOOL
USING THE CONSTRUCTION MANAGEMENT APPROACH OF CONSTRUCTION
IS COMPLETED AND HAS BEEN PRESENTED TO AND REVIEWED BY THE
ALLEGANY COUNTY BOARD OF EDUCATION AND THE INTERAGENCY
COMMITTEE.

[(4)](5) This Act shall take effect June 1, 1977.

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

Approved May 29, 1976.

CHAPTER 991

(Senate Bill 970)

AN ACT concerning

Alcoholic Beverages - Chain Stores, Supermarkets, or
Discount Houses

FOR the purpose of altering certain classes of licenses
which may not be issued to, granted, or used in