HERBERT R. O'CONOR, GOVERNOR. 1591

Federal funds in connection with national defense or
otherwise, to provide means for immediate construction
by the Commission of urgent projects, for the cost of
construction for re-locating ferry terminal or termini
and the construction of approach roadways thereto in
order to expeditiously operate the ferry service within
the waters of the Chesapeake Bay and its tributaries,
the sum of $1, 000, 000, to provide for the payment
of such refunding and improvement bonds and the in-
terest thereon from any monies duly appropriated for
that purpose; to dedicate certain revenues derived from
franchise taxes, license fees and gasoline taxes for the
payment of such refunding and improvement bonds and
the interest thereon; and to provide that such refunding
and improvement bonds and the interest thereon shall be
exempt from assessment and from State, County and
Municipal taxation in this State; to provide that such
refunding and improvement bonds shall not be deemed
obligations or debts contracted by the General Assembly
of Maryland or pledges of the faith or credit of the
State of Maryland; to provide that this Act shall be
passed as an emergency measure.

WHEREAS, the State Roads Commission has outstanding
refunding bonds in the aggregate amount of $4, 980, 000,
which bonds may be called for redemption on any interest
payment date, and it is for the best interest of the State
to take advantage of the present favorable market condi-
tions by calling all said bonds for redemption and by issu-
ing refunding and improvement bonds of the Commission
to refund said outstanding bonds, such refunding and im-
provement bonds to bear interest at a lower rate or rates
than the rate of interest borne by the present outstanding
refunding bonds to be refunded thereby effecting savings
in interest, and

WHEREAS, in connection with national defense there is
urgent need for construction and improvement of various
highways and bridges and to provide means for such
construction and improvement and to supplement Federal
funds with State funds; Now, therefore

SECTION 1. Be it enacted by the General Assembly of
Maryland, That six new sections be and the same are
hereby added to Article 89B of the Annotated Code of
Maryland (1939 Edition), title "State Roads", said new
sections to be known as Sections 147A, 147B, 147C, 147D,
147E and 147F, and to read as follows: