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Session Laws, 1935
Volume 579, Page 744   View pdf image (33K)
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744 LAWS OF MARYLAND. [CH. 330

a sum not exceeding Ten Million Dollars ($10, 000, 000) for
the cost of said bridge, payable out of revenues only, and pro-
viding that said bonds shall in no way be the debt or obliga-
tion of the State of Maryland or any sub-division thereof; and
to issue its 'Ferry' bonds in a sum not in excess of One Million,
Two Hundred Thousand Dollars ($1, 200, 000) for the cost of
acquisition of a ferry; and to condemn or otherwise acquire
land needed for the construction of said bridge and approaches
and for its other corporate purposes; and to issue its 'Bridge
Approach* bonds in an amount not exceeding Five Hundred
and Twenty Thousand Dollars ($520, 000) for the cost of the
construction of said approaches; said 'Ferry' and 'Bridge Ap-
proach' bonds to be payable primarily from the revenues
from the projects of the Authority; to provide for an annual
tax consisting of such part of the gasoline taxes required to
be paid by Section 212A of Article 56 of the Public General
Laws of Maryland as shall be necessary to meet the deficit
in the other funds provided in this Act to pay the interest and
principal of said 'Ferry' and 'Bridge Approach' bonds, as they
fall due, to provide that such annual tax shall not be repealed,
diminished or applied to any other object until said 'Ferry'
and 'Bridge Approach' bonds and interest thereon shall have
been fully discharged; and to provide for exemption of the
bonds and of such projects, and the tolls and revenues derived
therefrom from taxation; and empowering the State Roads
Commission of Maryland to assist the said Authority, and
under certain circumstances to exercise its powers; and for
other purposes.

SECTION 1. Be it enacted b$ the General Assembly of
Maryland, That nineteen new sections be and the same are
hereby added to Article 89B of the Code of Public General
Laws of Maryland, title 'State Roads', as said Article was
enacted by Chapter 539 of the Laws of Maryland of 1931, and
any amendments thereto, said new sections to be numbered
75 to 93, inclusive, to follow immediately after Section 74, and
to read as follows:

75, The following terms, whenever used or referred to in
this Article, shall have the following meaning unless a differ-
ent meaning clearly appears from the context:

(a) The term 'Authority' shall mean the corporation cre-
ated by Section 76 of this Article.

(b) The term 'Bonds' shall mean bonds, notes or other
evidences of indebtedness issued by the Authority pursuant
to this Article. ,

(c) The term 'Board' shall mean the members of the Au-
thority.

 

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Session Laws, 1935
Volume 579, Page 744   View pdf image (33K)
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