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Session Laws, 1937
Volume 412, Page 698   View pdf image (33K)
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698 LAWS OF MARYLAND. [CH. 356

object until the principal and interest of such refunding bonds
shall be fully paid or provisions made for their payment.
After the principal and interest of such refunding bonds
becoming due each year shall have been paid and the reserve
fund of $345, 000 maintained, the remaining revenue produced
from the said taxes each year shall be expended by the Com-
mission as otherwise provided for by law. If such reserve
fund is invested, it shall be invested only in obligations to the
payment of which the full faith and credit of the State of
Maryland are pledged, or in bonds issued by the State Roads
Commission of Maryland.

128. Should any section, or part of a section of this sub-
title be held to be invalid for any reason, such holding shall
not be construed as affecting the validity of any remaining
section or part of a section of this sub-title, it being the
legislative intent that the remainder of this sub-title shall
stand, notwithstanding the invalidity of such section or part
of a section.

129. The State Roads Commission of Maryland shall have
no power to pledge to the payment of the principal of or the
interest on such refunding bonds any tolls which may be
charged and collected for the use of any bridge or bridges
now erected or to be erected on the State roads system or on
any main route or road in the State of Maryland or over any
body of water forming a boundary line of the State, and the
tolls charged and collected for the use of any such bridge
shall not be pledged or applied to the payment of the principal
of or the interest on such refunding bonds.

SEC. 2. And be it further enacted. That this Act is declared
to be an emergency law and necessary for the immediate
preservation of the public health and safety, and being passed
by a yea and nay vote, supported by three-fifths of all the
members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its
passage.

Approved April 15, 1937.

CHAPTER 356.

AN ACT to add eighteen new sections to Article 89B of the
1935 Supplement to the Annotated Code of Maryland (1924
Edition), title "State Roads", such new sections to follow
immediately after Section 104 of said Article under a new

 

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Session Laws, 1937
Volume 412, Page 698   View pdf image (33K)
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