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 246   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

246 LAWS OF MARYLAND. [CH. 114

pledged to, and charged with the payment of, (a) the
interest upon such bonds as such interest shall fall due, (b)
the payment of the principal of the bonds as the same shall
fall due, (c) the necessary fiscal agency charges for paying
principal and interest, and (d) the payment of any pre-
mium upon bonds retired by call or purchase as herein
provided. The use and disposition of such sinking fund
shall be subject to such regulations as may be provided in
the resolution authorizing the issuance of bonds, or in the
trust indenture, but, except as may otherwise be provided
in such resolution or trust indenture, such sinking fund
shall be a fund for the benefit of all bonds issued hereunder
without distinction or priority of one over another. Subject
to the provisions of the resolution authorizing the issuance
of bonds, or of the trust indenture, any moneys in such
sinking fund in excess of an amount equal to one year's
interest on all bonds then outstanding may be applied to
the purchase or redemption of bonds. All bonds so pur-
chased or redeemed shall forthwith be cancelled and shall
not again be issued.

64X. Cessation of Tolls. When the bonds and the in-
terest thereon shall have been paid, or a sufficient amount
shall have been provided for their payment and shall con-
tinue to be held for that purpose, the Commission shall
cease to charge tolls for the use of the bridge, and there-
after the bridge shall be free, unless tolls are required for
maintaining, repairing, and operating the bridge due to the
lack of funds from other sources than tolls.

64Y. Remedies of Bondholders and Trustee. Any holder
of any of such bonds or any of the coupons attached there-
to, 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 proceedings, protect and
enforce any and all rights granted hereunder or under
such resolution or trust indenture, and may enforce and
compel performance of all duties required by this sub-title,
or by such resolution or trust indenture, to be performed
by the Commission, or any officer thereof, including the
fixing, charging, and collecting of tolls for transit over the
bridge.

64Z. Contributions. The Commission, in addition to
the moneys which may be received from the sale of bridge

 

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 246   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