1194 ARTICLE 89B.

The said promissory notes, bonds or other evidences of indebtedness
shall bear interest at such rate or rates, not exceeding six (6%) percentum
per annum as shall be provided for by resolution of the said Commission,
and such interest may be evidenced by semi-annual coupons attached to
said notes, bonds or other evidences of indebtedness and bearing the fac-
simile signature of the Chairman of said Commission and of the Treasurer,
of Maryland, and the facsimile countersignature of the Comptroller of
Maryland. No promissory note, bond or other evidence of indebtedness
issued under the provisions of this sub-title shall be sold by the said Com-
mission for less than the par or face value thereof.

1935, ch. 563, sec. 77.

80. All promissory notes, bonds or other evidences of indebtedness
issued by the State Roads Commission under the provisions of this sub-
title shall be exempt from assessment and from State, County and Muni-
cipal taxes in Maryland. None of said promissory notes, bonds or other
evidences of indebtedness shall be deemed to be an obligation or debt of
the State of Maryland or a pledge of the faith and credit of said State,
but the said indebtedness so evidenced shall be payable exclusively from
the revenue from truck licenses and franchise taxes and from the revenue
from the gas tax as hereinafter provided for or out of such moneys as
shall be duly appropriated from time to time for that purpose by the
General Assembly of Maryland, or out of the receipts from tolls as here-
inafter provided for.

1035, ch. 563, sec. 78.

81. The money borrowed pursuant to the terms of this sub-title, or the
proceeds from the sale of any promissory notes, bonds or other evidences of
indebtedness under the provisions of this sub-title, shall be paid to the
Treasurer of Maryland upon the warrant of the Comptroller of Maryland,
and so much thereof as may be necessary shall be paid by the Treasurer
of the State, upon the warrant of the Comptroller, out of the proceeds of
such sale, for the payment of the expense of engraving, printing, and other
outlay in connection with the said loan or said issue of securities, and all
other incidental expenses in connection therewith. The balance of the said
proceeds shall be expended by the State Roads Commission for the con-
struction, reconstruction, relocation, widening and improving of State
Roads and Bridges within the boundaries of the State of Maryland.

1935. ch. 563, sec. 79.

82. There shall be laid and collected an annual tax sufficient to pay
the principal of and interest on the said promissory notes, bonds or other
evidences of indebtedness issued pursuant to the provisions of this sub-
title as the same shall fall due. Such annual tax shall consist of such
part of the license fees and franchise taxes with respect to trucks and
commercial vehicles required to be paid by Article 56 of the Code of
Public General Laws of Maryland (after deducting therefrom so much