1314 LAWS OF MARYLAND [CH. 463

The issuance of such bonds, the maturities and other details
thereof, the rights and remedies of the holders thereof,
and the rights, powers, privileges, duties and obligations of
the Authority with respect to the same, shall be governed
by the foregoing provisions of this sub-title in so far as
the same may be applicable.

410R. Bonds issued under the provisions of this sub-
title are hereby made securities in which all public officers
and public agencies of the State and its political subdivi-
sions, and all banks, trust companies, savings and loan as-
sociations, investment companies 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
properly 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.

410S. Notwithstanding any contrary provision of law,
any municipality is hereby authorized and empowered to
transfer jurisdiction over, to lease, lend, grant, sell or con-
vey to any Authority upon the request of such Authority,
with or without consideration, any facilities or any right
or interest therein or any property appertaining thereto,
or any real property or estate, right or interest therein for
use by such Authority in connection with the construction,
reconstruction, extension, repair, improvement, mainten-
ance or operation of one or more projects upon such terms
and conditions as the governing body of such municipality
shall determine to be for the best interests of such munici-
pality. The State of Maryland consents to the use of all
lands below high water mark owned or controlled by it
and to the use of any land between the right-of-way limits
of any State highway, which are necessary or desirable in
connection with the construction, reconstruction, exten-
sion, repair, improvement, maintenance or operation of
any project; provided, however, that the use of any portion
between the right-of-way limits of a State highway shall
be subject to the approval of the State Roads Commission.

Each municipality is hereby authorized and empowered:
(a) To contract with any Authority created hereunder
for the collection, treatment or disposal of sewage.