clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1936 (Special Session 1)
Volume 577, Page 245   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

HARRY W. NICE, GOVERNOR. 245

proval of consulting engineers employed or designated by
the Commission and satisfactory to the original purchasers
of the bonds issued therefor, and may also require that
the security given by contractors and by any depository of
the proceeds of the bonds or revenues of the bridge or
other moneys pertaining thereto be satisfactory to such
purchasers. It shall be lawful for any bank or trust com-
pany incorporated under the laws of this State to act as
such depository and to furnish such indemnifying bonds or
to pledge such securities as may be required by the Com-
mission. Such indenture may set forth the rights and reme-
dies of the bondholders and of the trustee, and may restrict
the individual right of action of bondholders as is custom-
ary in trust indentures securing bonds and debentures of
corporations. In addition to the foregoing, such trust in-
denture may contain such other provisions as the Com-
mission may deem reasonable and proper for the security
of bondholders. All expenses incurred in carrying out such
trust indenture may be treated as a part of the cost of
maintenance, operation, and repair of the bridge.

64W. Bridge Tolls. The Commission is hereby author-
ized to fix and to revise from time to time tolls for transit
over the bridge and to charge and collect the same, and to
fix by contract with any person, partnership association
or corporation desiring the use of the bridge, approaches
and appurtenances or any part thereof, for placing thereon
water, gas, oil pipe lines, telephone, telegraph, electric
light or power lines or for any other purpose, except for
tracks for railroad or railway use, the terms, conditions
and rates of charges for such use. Such tolls shall be so
fixed and adjusted as to provide a fund sufficient with
other revenues of the bridge to pay the cost of maintain-
ing, repairing, and operating the bridge, and to pay the
bonds and the interest thereon as the same shall become
due, subject, however, to any applicable law or regulation
of the United States of America now in force or hereafter
to be enacted or made. Such tolls shall not be subject to
supervision or regulation by any other State commission,
board, bureau or agency. The tolls and all other revenues
derived from the bridge, except such part thereof as may
be required to pay the cost of maintaining, repairing, and
operating the bridge and to provide such reserves therefor
as may be provided for in the resolution authorizing the is-
suance of the bonds or in the trust indenture, shall be set
aside, in accordance with the provisions of such resolu-
tion or such indenture, in a sinking fund, which is hereby

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1936 (Special Session 1)
Volume 577, Page 245   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  August 17, 2024
Maryland State Archives