WM. PRESTON LANE, JR., GOVERNOR. 107

"State Roads", sub-title "Bridge, Tunnel and Motorway
Revenue Bonds", be and the same is hereby repealed and re-
enacted, with amendments, to read as follows:

122H. (Chesapeake Bay Crossing. ). If the Commission
shall determine to construct a crossing from a point in
Anne Arundel County at or near Sandy Point to a point
approximately opposite on Kent Island and shall authorize
and issue revenue bonds under the provisions of this sub-
title to pay the cost of such crossing or the cost of such
crossing and other projects, the Commission shall provide
on or prior to the issuance of such bonds for the redemp-
tion and retirement of all of the outstanding revenue bonds
designated ''State Roads Commission of Maryland Chesa-
peake Bay Ferry Revenue 1 1/2% Bonds of 1941" which
were issued under the provisions of Sections 140A to
140M, inclusive, of this Article (Chapter 856 of the Acts of
the General Assembly of Maryland of 1941), and for the re-
demption and retirement of all the outstanding bonds desig-
nated "State Roads Commission of Maryland Chesapeake Bay
Ferry System Improvement Bonds", which were issued under
the provisions of Sections 140N to 140U, inclusive, of this
Article (Chapter 755 of the Acts of the General Assembly of
Maryland of 1945). The Commission shall apply to the re-
demption and retirement of such outstanding bonds all sink-
ing fund reserves and all special reserves then accumulated
for the purpose of paying such outstanding bonds at maturity.
The balance required for the redemption and retirement of
such outstanding bonds shall be deemed to be a part of the
cost of such crossing. Upon making provision for such
redemption and retirement, all revenues of the Chesapeake
Bay Ferry System shall be applied to the extent neces-
sary to the payment of the cost of maintaining, repairing and
operating the ferries and other properties belonging to said
system and any residue thereof shall be applied to the pay-
ment of the cost of such crossing or shall be deposited
to the credit of the sinking fund for the revenue bonds issued
for such crossing or for such crossing and other projects.
The current schedules of ferry rates and tariffs shall not
be reduced during the period of crossing construction. Upon
completing the construction of such crossing and opening the
same to traffic the Commission shall sell or otherwise dispose
of all ferries and other properties belonging to said system,
except such properties as the Commission may deem desirable
to retain in connection with the operation of such crossing or
of the Claiborne-Romancoke Ferry Service, and the proceeds
of such sale or other disposition shall be applied to the pay-
ment of any remaining items of cost of such crossing or shall
be deposited to the credit of the sinking fund for the revenue
bonds issued for such crossing or for such crossing and other
projects.