556 LAWS OF MARYLAND. [CH. 339

of Public General Laws of Maryland (1939 Edition) and no
limitations on the taxing powers of the City shall constitute
any limitation on its power hereby granted to levy upon
all assessable property within the corporate limits of the
City ad valorem taxes, without limit as to rate or amount,
sufficient in each year to provide funds for the payment of the
principal and interest of said bonds. Such taxes shall be
levied and collected in the same manner as other ad valorem
taxes of the City are levied and collected and shall have
the same priority and lien as such other taxes. Said bonds
and the interest paid thereon in the hands of the persons
entitled thereto, from time to time, shall be and remain
exempt from all state, county and municipal taxation of
any kind and nature whatsoever in the State of Maryland.
Notwithstanding the provisions hereof for the issuance of
such bonds on the full faith and credit of the City and the
payment of the principal and interest of the said bonds from
the ad valorem taxes hereby authorized to be levied, such
principal and interest shall, to the extent possible, be paid
in any year that any of said bonds are outstanding from
any surplus revenues or net profits of the project, with re-
spect to which said bonds were issued, not needed for the
payment of the principal and interest of the revenue bonds
hereinafter authorized. Said general obligation bonds may be
made redeemable before maturity in whole or in part at the
option of the City, at such price or prices and under such
terms and conditions as may be fixed by the City at the time
of issuance and the funds for such redemption may be pro-
vided by the issue and sale of additional revenue bonds as
hereinafter authorized. If said bonds are issued on a sinking
fund plan, deposits into said sinking fund shall, to the extent
available, be made from the surplus or net revenues of the
project with respect to which said bonds were issued, and if
at maturity, said sinking fund is inadequate for the payment
of all of said bonds, the additional funds necessary for such
payment shall, if possible, be provided by the issuance of addi-
tional revenue bonds in the manner hereinafter authorized.
The authority conferred by this section shall cease and de-
termine if the cost of acquisition or cost of construction of
a project for the City shall be initially financed by the issu-
ance of revenue bonds, and said authority shall be exhausted
by one issue of general obligation bonds hereunder. Unless
they are inappropriate or in conflict with the provisions of
this section, the provisions of the next succeeding section
specifying the terms and conditions of the revenue bonds
shall be applicable to the general obligation bonds above
authorized.