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Ch. 637
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2032
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LAWS OF MARYLAND
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(4) The total issued and outstanding bonded
indebtedness of the county or City;
(5) The total assessable taxable basis of the county
or City as determined on the last preceding date of finality; and
(6) Other information as may be required by the
Interagency Committee on School Construction.
(b) Upon receipt of the certified statement as specified in
subsection (a) of this section, the Interagency Committee on
School Construction shall make a written finding of fact which
shall be addressed to the Board of Public Works, the finding of
fact to be in the form of a recommendation to the Board of Public
Works, advising the Board which of the requests for financial
assistance made by any of the county boards of education or made
by the City of Baltimore, as aforesaid, should be allowed and
which requests for financial assistance should be denied. In
making the aforesaid finding of fact, the Interagency Committee
on School Construction shall, at the request of the Board of
Public Works, determine a priority of need for school buildings
as between any county board of education in the State or as
between any county board of education in the State and the City
of Baltimore. No grant of financial assistance as provided for
in this Act shall be allowed until the grant has been finally
ratified and approved by the Board of Public Works. The decision
of the Board of Public Works in this regard shall be in a form as
the Board shall consider advisable and proper and shall be final
and conclusive upon all parties concerned.
(c) The amount of financial assistance granted to any
county board of education or to the City of Baltimore under the
terms and conditions of this Act shall in no case exceed an
amount calculated as follows:
(1) There shall first be determined and allocated to
each county board of education which applies for financial
assistance under this Act or to the City of Baltimore if said
City applies for financial assistance under this Act an amount
equal to 90 percent of the total funds distributed to aid said
county or to said City, as the case may be, under application
applicable provisions of State law relating to the income tax,
the tax on racing, the recordation tax, the tax on amusements,
and the license tax.
(2) There shall next be determined the total amount
of State debt which could be serviced at prevailing debt cost by
the amount allocable to each of the counties and to the City of
Baltimore, as more specifically provided in the last preceding
sentence in this paragraph.
(3) The amount of total State debt allocable to each
of the counties and to the City of Baltimore, as provided in the
last preceding sentence of this paragraph, shall be the limit of
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