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Session Laws, 1935
Volume 579, Page 746   View pdf image (33K)
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746 LAWS OF MARYLAND. [CH. 330

Bridge, as hereinafter provided for, the salary of the Chair-
man shall be $3, 000 annually, and of each of the other mem-
bers $2, 500 annually. The Board shall apportion the expenses
of administration between the Bridge project and the Ferry
project according to its best judgment, but subject to any
agreement with bondholders. In the event that no contract
for the construction of the Bridge is entered into within a
period of two years from the passage of this Act, all of the
rights, powers, duties and obligations of the Board with re-
spect to the acquisition, maintenance and operation of the
Ferry, and the payment of the debt service requirements of
any bonds issued for the purchase of the Ferry shall be taken
over, transferred to, and shall thereafter be exercised and
performed by the State Roads Commission of Maryland to the
same extent as if the State Roads Commission had been
named in this Act instead of said Board. And in such event,
it shall be the duty of said Board to transfer to the State
Roads Commission all of the assets of the Ferry, and ac-
quired with the Ferry property, and all books, records, docu-
ments in any manner relating to the Ferry, its acquisition and
operation. The powers of said corporation shall be vested
in and exercised by a majority of the members of the Board
then in office. Said Board may delegate to one or more of
its agents and members such powers as it may deem proper.
Said Board shall keep accurate and complete records of all
of its proceedings and transactions. Said Board, in its cor-
porate existence, shall continue only for a period of ten years
and thereafter until all of its liabilities have been met and
its obligations have been paid in full, or such liabilities and
obligations have otherwise been discharged. Upon its ceasing
to exist, all of its rights and properties shall pass to the State
of Maryland.

No member of the Board shall vote on any question in which
he may have a personal financial interest.

Notwithstanding anything in this Act contained and not-
withstanding any of its other duties, powers and obligations
under this Act, the Authority, in issuing Bridge Bonds and
in entering into any agreements with bondholders with re-
spect thereto, and in the construction and operation of the
Bridge, and in the performance of any other duties whatso-
ever with respect to the Bridge hereunder, shall not be con-
strued to be acting as an agency of the State of Maryland
and shall have no power whatsoever to bind the State with
respect thereto.

77. The Authority shall have the following powers in ad-
dition to others herein granted:

 

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Session Laws, 1935
Volume 579, Page 746   View pdf image (33K)
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