1206 ARTICLE 89B.

laws relating to the Public Service Commission shall be deemed to be
applicable to the Authority or the projects; nor shall any of the limitations,
restrictions, conditions, taxes or other requirements imposed by Sections
44 to 55 of this Article be applicable to the Authority or its construction

or the operation of the Bridge.

D. Subject to the existing- franchises of the Chesapeake Bay Bridge
Company and of the Claiborne-Annapolis Ferry Company and any other

existing franchises respecting a bridge or ferry over the waters of the
Chesapeake Bay, no person, partnership, association or corporation, private
or public, and no political sub-division of the State, shall be authorized, and
it shall be unlawful for any of them to construct or operate, and the State
hereby agrees that it will not construct or operate, any bridge or ferry over
the waters of the Chesapeake Bay at a distance less than twenty miles from
the Bridge to be erected in pursuance to this sub-title, until the Bridge
bonds together with interest thereon, with interest on any unpaid in-
stallment of interest, and all costs and expenses in connection with any
action or proceedings by or on behalf of the holders of such bonds are
fully met and discharged; provided that nothing herein contained shall
affect the right of any person, partnership, association or corporation, or
the State or any of its political sub-divisions to construct or operate any
bridge or ferry as the holder or assignee of any such existing franchise, or
of the purchaser of any existing bridge or ferry operated pursuant to any
such existing franchises.

1035, ch. 330. sec. 90.

100. Without limiting the generality of the powers of acquisition of
property hereinabove conferred upon the Authority, the Authority shall
have authority to acquire from The Chesapeake Bay Bridge Company its
franchises, real and personal property, plans, engineering data, records,
surveys, maps and all property, data and records of whatever description
pertaining to or relating to the designing and construction of the bridge

and to make use of the same and to pay therefor the reasonable cost and

expenses of the said corporation or any individual acting on its behalf,

disbursed or incurred on its or his behalf in accumulation thereof. The
Chesapeake Bay Bridge Company is hereby empowered to assign and con-
vey such franchises and property to the Authority. Such payments shall
include only such items of cost and expense as may be determined by the
Authority to have been reasonably necessary or proper for the creation and

development of the bridge, and shall not include any capitalization of fran-
chise value or anticipated profits and shall likewise be subject to the limita-
tions of any agreement with the Federal Emergency Administrator of
Public Works or any other Federal Agency.

1935, ch. 330. sec. 91.

101. The Authority shall, upon its appointment and organization as
provided in this sub-title, obtain an inventory of the property owned by
the Claiborne-Annapolis Ferry Company and make a study of the financial