HERBERT R. O'CONOR, GOVERNOR. 883

buildings, employees' quarters, and the equipment of all
buildings at any or all of the termini used by the Ferry
System.

140-0. The Commission shall determine the form of the
bonds hereby authorized; including any interest coupons to
be attached thereto, and shall fix the denomination or de-
nominations of the bonds and the place or places of pay-
ment of principal and interest thereof, which may be at
any bank or trust company within or without the State.
The bonds shall be signed by the Chairman of the Commis-
sion and countersigned by the Comptroller of the State and
the official seal of the Commission shall be affixed thereto
and attested by the Secretary of the Commission, and any
coupons attached thereto shall bear the facsimile signature
of the Chairman of the Commission. In case any officer
whose signature shall appear on any bonds or coupons shall
cease to be such officer before the delivery of such bonds,
such signature shall nevertheless be valid and sufficient for
all purposes the same as if he had remained in office until
such delivery. All bonds issued under the provisions of
this sub-title shall have and are hereby declared to have,
as between successive holders, all the qualities and inci-
dents of negotiable instruments, under the negotiable in-
struments law of the State.. The bonds may be issued in
coupon or in registered form, or both, as the Commission
may determine, and provision may be made for the regis-
tration of any coupon bond as to principal alone and also
as to both principal and interest. The improvement bonds
issued under the provisions of this sub-title shall be exempt
from assessment and from State, County and Municipal
taxes in Maryland. None of the bonds shall be deemed to
be an obligation or debt of the State of Maryland or a
pledge of the faith and credit of said State, but the prin-
cipal and interest of such improvement bonds shall be pay-
able exclusively from the revenues received by the Com-
mission from the One-half Cent (1/2c) Grade Elimination
Gasoline Tax, as hereinafter provided, or out of such mon-
ies as shall be duly appropriated from time to time for the
purpose by the General Assembly of Maryland.

140-P. It is not required that the bonds of this issue be
secured by a Trust Indenture by and between the Com-
mission and a trustee, although the Commission may, by
resolution, secure the bonds of this issue by a Trust In-
denture. The principal and interest of the bonds of this
issue shall be payable solely from the State Roads Com-
mission's share of the One-half Cent (1/2c) Grade Elimina-
tion Gasoline Tax, subject to the prior use of a part of the