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Session Laws, 1937
Volume 412, Page 709   View pdf image (33K)
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HARRY W. NICE, GOVERNOR. 709

issued for the first mentioned project shall have been paid or
provision made for their payment.

115. REMEDIES OF BONDHOLDERS AND TRUSTEE. Any holder
of revenue bonds issued under the provisions of this sub-title
or any of the coupons attached thereto, and the trustee under
the trust indenture, if any, except to the extent the rights
herein given may be restricted by resolution passed before the
issuance of the bonds or by the trust indenture, may, either,
at law or in equity, by suit, action, mandamus, or other pro-
ceedings, protect and enforce any and all rights under the
laws of the United States or of the State of Maryland or
granted hereunder or under such resolution or trust inden-
ture, and may enforce and compel performance of all duties
required by this sub-title, or by such resolution or trust in-
denture, to be performed by the Commission, or any officer
thereof, including the fixing, charging, and collecting of tolls
for the use of the project or projects.

116. CONTRIBUTIONS. The Commission, in addition to the
moneys which may be received from the sale of revenue bonds
and from the collection of tolls and other revenues derived
under the provisions of this sub-title, shall have authority to
accept from any Federal agency grants for or in aid of the
construction of any bridge or tunnel or the payment of the
bonds, and to receive and accept contributions from any
source of either money or property or other things of value,
to be held, used, and applied only for the purposes for which
such grants or contributions may be made.

117. COMPETING BRIDGES, TUNNELS AND FERRIES. So long
as any bonds issued hereunder remain outstanding, no bridge
or tunnel for the use of the traveling public shall hereafter be
constructed and operated by any county, municipal corpora-
tion or political sub-division of the State, or by any person,
co-partnership, association, or corporation, and no franchise
shall hereafter be granted for the operation of a ferry, within
a distance of ten miles from the location of any bridge or
tunnel constructed under the provisions of this sub-title, ex-
cept under a written permit granted by the Commission. No
such permit shall be granted by the Commission until it shall
ascertain by an investigation, including a hearing upon such
notice and under such rules as the Commission may prescribe,
that there is urgent public need for the operation of such
bridge or tunnel or ferry, and that its operation will not
affect the revenues of any bridge or tunnel constructed under
the provisions of this sub-title so as to impair the security of
any revenue bonds issued for the construction of such bridge
or tunnel.

 

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Session Laws, 1937
Volume 412, Page 709   View pdf image (33K)
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