1072 LAWS OF MARYLAND [CH. 345

SEC. 12. And be it further enacted:

(Tax Exemption. ) It is hereby found, determined and
declared that the establishment of the parking facilities
under the provisions of this Act is in all respects for the
benefit of the inhabitants of Baltimore County and of the
State of Maryland, and is a public purpose, and that the
County Commissioners of Baltimore County and the
Authority will be performing an essential governmental
function in the exercise of the powers conferred by this
Act, and the Authority shall not be required to pay any
taxes or assessments upon any facility or any part thereof
or upon its activities in the operation and maintenance of
any facility or upon any revenues therefrom, and the park-
ing facilities and the bonds of the Authority and the inter-
est thereon shall be and remain forever exempt from all
state, municipal and local taxation.

SEC, 13. And be it further enacted:

(Bonds Eligible for Investment. ) Revenue bonds issued
under the provisions of this Act are hereby made securi-
ties in which all public officers and public agencies of the
State and its political subdivisions, and all banks, trust
companies, savings and loan associations, investment com-
panies and others carrying on a banking business, all
insurance companies and insurance associations and others
carrying on an insurance business, all administrators,
executors, guardians, trustees and other fiduciaries, and
all other persons may legally and properly invest funds,
including capital in their control or belonging to them.
Such bonds are hereby made securities which may prop-
erly and legally be deposited with and received by any
State or municipal officer or any agency or political sub-
division of the State for any purpose for which the deposit
of bonds or other obligations of the State is now or may
hereafter be authorized by law.

SEC. 14. And be it further enacted:

(Alternative Method. ) The provisions of this Act shall
be deemed to provide an additional and alternative method
for the doing of the things authorized hereby and shall be
regarded as supplemental and additional to powers con-
ferred by other laws and shall not be regarded as in dero-
gation of any powers now existing, and such provisions
shall be liberally construed to effect the purposes thereof.

SEC. 15. And be it further enacted:
(Provisions Severable. ) The provisions of this Act are
severable, and it is the intention to confer the whole or