1188 ARTICLE 89B.

1933 (Special Sess. ), ch. 34, sec. 13.

64M. If and when all of the stock of George Washington Memorial
Bridge Public Corporation shall be acquired by the State Roads Commis-
sion and the charter of said Corporation shall contain provisions prevent-
ing the transfer of said stock, said Corporation shall constitute a public
benefit corporation and a public instrumentality of the State of Maryland
and thereupon (a) bond3 of George Washington Memorial Bridge Public
Corporation shall be exempt from taxation, except for inheritance taxes,
(b) the gross receipts of George Washington Memorial Bridge Public
Corporation arising from the tolls and charges of said bridge pledged to
secure such bonds shall be exempt from franchise taxes levied by Section
64G and such exemption shall not be construed to remove the exemption
from other taxes therein contained, (c) title to all real property of the
Corporation acquired under the provisions of Section 64C, or other-
wise, shall, subject to any mortgage or other lien given to secure the
bonds of said Corporation, be taken and vest, in so far as it may be
located in Maryland, only in the name of the State Roads Commission but
free of any cost to the State, and (d) the rates of tolls and charges upon the
bridge over the Potomac River shall be fixed at, and be limited to, an
amount sufficient to provide for the expenses of operation, repairs and
maintenance of said bridge, for the interest on and principal of the bonds
so purchased, according to their terms and for such reserves for the secu-
rity of said bonds as may be agreed upon in the contract under which
the same shall be issued, provided, however, that if at any time after the
acquisition of said stock the charter of said Corporation shall be so amended
as to permit the transfer of said stock, then this section shall thence forth
be without force or effect; but said stock shall not be transferred until
and unless the transfer thereof shall have been first sanctioned by an Act
of the General Assembly of Maryland.

1933 (Special Sess. ), ch. 34, sec. 14.

64N. The bonds and other obligations of George Washington Memorial
Bridge Public Corporation (formerly known as George Washington-Wake-
field Memorial Bridge, Inc. ) shall not create or constitute any indebtedness
or obligation of the State Roads Commission nor of the State of Mary-
land, nor of any instrumentality or political sub-division thereof, other
than said George Washington Memorial Bridge Public Corporation,
either legal, equitable, moral or otherwise, nor shall such bonds or the
interest thereon be payable out of any funds other than those of said Cor-
poration, and nothing in this sub-title contained shall be construed to
authorize said Corporation to incur any indebtedness on behalf of, or in
any way to obligate, the State.

1933 (Special Sess. ), ch. 34, sec. 4.

64-O. If any section, clause or provision of this sub-title shall be uncon-
stitutional or be ineffective in whole or in part to the extent that it is not
unconstitutional or ineffective it shall be valid and effective, and no other