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Session Laws, 1947
Volume 411, Page 598   View pdf image (33K)
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598 LAWS OF MARYLAND. [CH. 342

for the appointment of a receiver of the project, whether
or not all bonds shall have been declared due and payable
and whether or not such holder or trustee is seeking or has
sought to enforce any other right or to exercise any other
remedy in connection with such bonds, and upon such appli-
cation the court may appoint such receiver.

Notwithstanding anything in this section to the contrary,
any such receiver shall have no power to sell, assign, mort-
gage or otherwise dispose of said bridge or of any assets
of whatever kind or character belonging to and useful for the
bridge, and the authority of any such receiver shall be limited
to the operation and maintenance of the bridge in receivership
and no court shall have jurisdiction to enter any order or
decree requiring or permitting such receiver to sell, mortgage
or otherwise dispose of any such assets.

SEC. 8. And be it further enacted, That the County is
hereby authorized to provide by resolution for the issuance
of its revenue refunding bonds for the purpose of refunding
any revenue bonds then outstanding and issued under the
provisions hereof. The issuance of such revenue refunding
bonds, the maturities and other details thereof, and the duties
of the County in respect to the same, shall be governed by
the foregoing provisions hereof in so far as the same may
be applicable; provided, however, that no revenue refunding
bonds shall be issued except in exchange for revenue bonds to
be refunded thereby or in the amount necessary to provide
for the payment of matured revenue bonds or bonds matur-
ing or redeemable within six months or unmatured revenue
bonds which can be acquired for retirement, including any
redemption premium and accrued interest thereon.

SEC. 9. And be it further enacted, That upon the final
payment of all revenue bonds or revenue refunding bonds
issued with respect to the bridge, the authority of the County
to charge for the use thereof shall cease and determine.

SEC. 10. And be it further enacted, That so long as the
County shall retain title to the bridge, such bridge and the
revenues derived therefrom shall be and remain exempt from
all taxation of any kind and nature whatsoever by this
State or by any county or municipality of this State.

SEC. 11. And be it further enacted, That the county shall
be without power or authority to alien, lease, sell or otherwise
dispose of the bridge, except as salvage, unless provisions for
such sale, lease or disposition shall be made by resolution
and submitted to and approved by a majority of the qualified

 

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Session Laws, 1947
Volume 411, Page 598   View pdf image (33K)
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