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Session Laws, 1937
Volume 412, Page 704   View pdf image (33K)
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704 LAWS OF MARYLAND. [CH. 356

tion proceedings shall be conducted, and the compensation to
be paid shall be ascertained and paid, in the manner provided
by Section 3 or Section 25 of Article 89B of the Code of Public
General Laws of Maryland. The Commission is further
authorized and empowered to exercise in this State and in
any adjoining state such powers of eminent domain and such
franchises as may be conferred upon the State or the Commis-
sion by any Act of the Congress of the United States now in
force or which may hereafter be enacted or which may be
granted or assigned to the State or the Commission. Title
to any property condemned by the Commission shall be taken
in the name of the State. The State shall be under no obli-
gation to accept and pay for any property condemned or any
costs incidental to any condemnation proceedings and shall,
in no event, pay for the same except from the funds provided
under this sub-title; and in any condemnation proceedings,
the court having jurisdiction of the suit, action or proceeding
may make such orders as may be just to the State and to the
owners of the property to be condemned and may require an
undertaking or other security to secure such owners against
any loss or damage to be sustained by reason of the failure of
the State to accept and pay for the property, but such under-
taking or security shall impose no liability upon the State,
except such as may be paid from the funds provided under the
authority of this sub-title. The State of Maryland hereby
consents to the use of all lands lying under water, which are
within the State and are necessary for the construction and
operation of any of the above-mentioned bridges or tunnels
and the approaches and appurtenances thereto.

110. REVENUE BONDS. The Commission is hereby author-
ized to provide by resolution, at one time or from time to time,
for the issuance of revenue bonds of the State for the purpose
of paying all or any part of the cost as hereinabove defined of
any one or more projects as hereinabove defined. The prin-
cipal and interest of such bonds shall be payable solely from
the special fund herein provided for such payment. The bonds
of each issue shall be dated, shall bear interest at such rate
or rates not exceeding five and one-half per centum per annum,
payable semi-annually, shall mature at such time or times not
exceeding forty years from their date or dates, as may be de-
termined by the Commission, and may be made redeemable
before maturity, at the option of the Commission, at such
price or prices and under such terms and conditions as may
be fixed by the Commission prior to the issuance of the bonds.
The principal and interest of such bonds may be made payable
in any lawful medium. The Commission shall determine the
form of the bonds, including any interest coupons to be at-
tached thereto, and shall fix the denomination or denomina-

 

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Session Laws, 1937
Volume 412, Page 704   View pdf image (33K)
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