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Maryland Manual, 1969-70
Volume 174, Page 725   View pdf image (33K)
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MARYLAND MANUAL 725
under such terms and conditions as may be fixed by the
Authority prior to the issuance of the bonds.
(6) The exercise of the powers granted by this article
will be in all respects for the benefit of the people of the
State of Maryland, for the increase of their commerce and
prosperity, and for the improvement of their health and
living conditions, and as the development, operation and
maintenance of the developments by the Authority will con-
stitute the performance of essential governmental func-
tions, the bonds issued under the provisions of this section,
their transfer and the income therefrom including any
profit made on the sale thereof shall at all times be free
from all Federal, State, municipal and local taxation.
11. Appropriations
For the purpose of establishing development funds and
for the initial expenses in establishing the Authority as
herein provided, the Governor shall place in the Budget Bill
an item of One Hundred Thousand Dollars ($100,000) for
the fiscal year ending June 30, 1970. Any unexpended bal-
ance of such appropriation shall be carried forward to suc-
ceeding fiscal years for the purposes aforesaid.
12. Severability
The provisions of this title are severable and if any of its
provisions are held unconstitutional by any court of com-
petent jurisdiction the decision of such court shall not affect
or impair any of the remaining provisions.
SEC. 2. And be it further enacted, That this Act shall
take effect July 1, 1969.
Approved May 14,1969.

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Maryland Manual, 1969-70
Volume 174, Page 725   View pdf image (33K)
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