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Session Laws, 1935
Volume 579, Page 1174   View pdf image (33K)
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1174 LAWS OF MARYLAND. [CH. 563

from other funds of the State and to be used for the payment
of such interest and principal in the event that funds other-
wise provided f or herein shall prove unavailable or insuffi-
cient. Such annual tax shall amount to not less than $250, -
000 per year and shall not be repealed, diminished or applied
to any other object until the debt incurred under this Act
and interest thereon, shall be fully discharged. After the
interest on and principal of said promissory notes, bonds
or other evidences of indebtedness issued pursuant to this
Act and payable each year shall have been paid and the
reserve fund of $150, 000 maintained, the remaining rev-
enue produced from the said taxes each year shall be ex-
pended by the State Roads Commission as otherwise pro-
vided for by law. If such reserve fund is invested, it shall
be invested only in obligations to which the full faith and
credit of the State of Maryland is pledged.

80. In the event that the funds provided by the pre-
ceding section together with such other funds, if any, as
may, from time to time, be appropriated by the State for
the payment of said principal of and interest on said evi-
dences of indebtedness and the maintenance of said reserve
fund shall prove unavailable or insufficient, the State Roads
Commission is authorized, empowered and directed to pro-
vide for the charge and collection of tolls over any bridge
or bridges now erected, or to be erected, on any main route
or road, routes or roads, upon or with respect to which not
less than $250, 000 of the funds borrowed under the provi-
sions of this Act are to be or shall have been expended.
The State Roads Commission shall have full power and
authority to pledge the net proceeds from the tolls so
charged, and to be collected as well as the taxes provided
for in the preceding section hereof as security for any
money borrowed under the provisions of this Act.

SEC. 2. And be it further enacted, That should any
section, or part of a section of this Act be held to be in-
valid for any reason, such holding shall not be construed
as affecting the validity of any remaining section or part
of a section of this Act, it being the legislative intent that
the remainder of this Act shall stand, notwithstanding the
invalidity of such section or part of a section.

SEC. 3. And be it further enacted, That this Act is an
emergency law and necessary for the immediate preserva-
tion of the public health and safety, and for maintaining
the State Government and having passed by a yea and nay

 

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Session Laws, 1935
Volume 579, Page 1174   View pdf image (33K)
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