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Session Laws, 1955
Volume 620, Page 1105   View pdf image (33K)
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THEODORE R. McKELDIN, GOVERNOR                   1105

the jurisdiction of the Authority and for the removal and disposition
of refuse from any areas of said market, subject to such terms and
conditions and in such manner as the Authority and the

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SEC. 8 7. And be it further enacted:

(Credit of State and Political Subdivisions Not Pledged.) Revenue
bonds issued under the provisions of this Act shall not be deemed to
constitute a debt of the State of Maryland or any of its political sub-
divisions, or a pledge of the faith and credit of the State of Mary-
land, or any of its political subdivisions, but such bonds shall be pay-
able solely from the funds of the Authority hereinafter provided
therefor from revenues of the market. All such bonds shall contain
a statement on their face to the effect that neither the State of Mary-
land nor any of its political subdivisions are obligated to pay such
bonds or the interest thereon. The issuance of revenue bonds under
the provisions of this Act shall not directly or indirectly or contingent-
ly obligate the State of Maryland or any of its political subdivisions
to levy or to pledge any form of taxation whatever therefor or to
make any appropriation for their payment.

SEC. 9 8. And be it further enacted:

(Revenue Bonds.) The Authority shall have power and is hereby
authorized at one time or from time to time to provide by resolution
for the issuance of negotiable revenue bonds of the Authority
IN AN
AMOUNT NOT TO EXCEED TWO MILLION DOLLARS ($2,000,-
000.00) IN THE AGGREGATE, for the purpose of paying all or a
part of the cost of the market.

The revenue bonds shall be dated, shall bear interest at such rate or
rates not exceeding six per centum per annum, payable semi-annually,
and shall mature at such time or times not exceeding forty years from
the date or dates of their respective issues as may be determined by
the Authority, and may be made redeemable before maturity, at the


 

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Session Laws, 1955
Volume 620, Page 1105   View pdf image (33K)
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