842 LAWS OF MARYLAND. [CH. 463

70. As evidence of any indebtedness created pursuant
to the provisions of the preceding section, the said State
Roads Commission is authorized to execute and deliver its
negotiable promissory note or notes, bond or bonds, or
other evidence or evidences of indebtedness, to be signed
by at least two members of the said Commission.

The said promissory note or notes, bond or bonds or other
evidence or evidences of indebtedness shall be in such de-
nomination or denominations, and payable at such place
or places and at such date or dates as the said Commis-
sion shall by resolution provide.

The said promissory notes, bonds or other evidences of
indebtedness shall bear interest at such rate or rates, not
exceeding six (6%) percentum per annum, as shall be pro-
vided by resolution of the said Commission, and such in-
terest may be evidenced by semi-annual coupons attached
to said promissory notes, bonds, or other evidences of in-
debtedness and bearing the facsimile signature of the
Chairman of the said Commission.

No promissory note, bond or other evidence of indebt-
edness issued under the provisions of this Act shall be sold
by said Commission for less than the par or face value
thereof.

71. All promissory notes, bonds or other evidences of
indebtedness issued by the State Roads Commission under
the provisions of this Act shall be exempt from assess-
ment and from State, County and City taxes in this State.
None. of the said promissory notes, bonds or other evidences
of indebtedness shall be deemed to be an obligation or debt
contracted by the General Assembly of Maryland or a
pledge of the faith or credit of the State of Maryland
within the meaning of Section 34 of Article III of the
Constitution of this State, but the indebtedness so evi-
denced shall be payable exclusively from revenue from
truck licenses and franchises as hereinafter provided or
out of such monies as shall be duly appropriated from time
to time for that purpose by the General Assembly of Mary-
land, it being understood, however, that the said Commis-
sion shall have the power and authority, as hereinafter
provided, to pledge as security for such indebtedness the
tolls levied on bridges now erected or to be erected on the
State Roads system, and/or the license fees and franchise
fees now or hereafter levied by the State system in respect
to commercial motor vehicles.

72. The actual cash proceeds of the sale of any promis-
sory notes, bonds or other evidences of indebtedness, issued