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Session Laws, 1941
Volume 582, Page 1535   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1535

ance as above provided to the extent that the tolls and
revenues are at any time insufficient therefor. To the
extent hereby required, such tax shall not be repealed,
diminished or applied to any other object until the debt
represented by the revenue bonds and interest thereon
shall be fully discharged. Except to the extent that the
aforesaid tax is pledged for the further security of the
said bonds, the bonds shall constitute obligations solely
of the Commission and shall not constitute debts of the
State of Maryland or a pledge of the faith and credit of the
State but shall be payable exclusively from the said tax
and the tolls and revenues of the said ferry.

140L. When the revenue bonds issued for the ferry
project and the interest thereon shall have been paid, or a
sufficient amount shall have been provided for their pay-
ment and shall continue to be held for that purpose, the
Commission shall cease to charge and collect tolls for the
use of such ferry, provided however, that the Commis-
sion may thereafter charge tolls for the use of such ferry
in the event that tolls are required for maintaining, re-
pairing and operating such project due to the lack of funds
from other sources.

140M. As long as any bonds issued hereunder are out-
standing, the Commission shall not enter into any com-
mittment under the authority granted it by Chapter 356
of the Acts of 1937 for the construction of a bridge across
the Chesapeake Bay from a point in Anne Arundel County
at or near Sandy Point to a point approximately opposite
on Kent Island, unless concurrently therewith or prior
thereto adequate provision is, or has been, made for the
redemption and retirement of all such outstanding bonds.

SEC. 3. And be it further enacted, That Section 242 of
Article 56 of the Annotated Code of Maryland (1939 Edi-
tion), title "Licenses", sub-title "Gasoline Tax", be and
the same is hereby repealed and re-enacted, with amend-
ments, to read as follows:

242. On and after the first day of April, 1927, the
license tax in respect of motor vehicle fuels, prescribed by
this subtitle, shall be increased one-half cent per gallon.
The State Treasurer shall create a special fund of the re-
ceipts from the said additional tax of one-half cent per
gallon, and shall disburse the same monthly (less such sum
to be retained by the Comptroller, as, in the judgment
of the Comptroller shall be sufficient to enable him to pay
promptly all claims for refunds), as follows: One-fifth

 

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Session Laws, 1941
Volume 582, Page 1535   View pdf image (33K)   << PREVIOUS  NEXT >>


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