THEODORE R. McKELDIN, GOVERNOR                  1109

vided in such resolution or trust indenture, such sinking fund shall
be a fund for the benefit of all bonds without distinction or priority
of one over another. Subject to the provisions of the resolution au-
thorizing the issuance of bonds or of the trust indenture, any moneys
in such sinking fund in excess of an amount equal to one year's in-
terest on all bonds then outstanding may be applied to the purchase
or redemption of bonds. All bonds so purchased or redeemed shall
forthwith be cancelled.

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SEC. 13 12. And be it further enacted:

(Remedies of Bondholders and Trustee.) Any holder of revenue
bonds issued under the provisions of this Act or of any of the coupons
attached thereto, and the Trustee under the trust indenture, if any,
except to the extent the rights herein given may be restricted by
resolution passed before the issuance of the bonds or by the trust
indenture, may, either at law or in equity, by suit, action, mandamus,
or other proceedings, protect and enforce any and all rights under the
laws of Maryland or granted hereunder or under such resolution or
trust indenture, or under any ordinance of the Council, and may en-
force and compel performance of all duties required by this Act or by
such resolution, trust indenture or ordinance to be performed by the
Authority, the State, any political subdivision 'thereof or by any
officer thereof, including the fixing, charging, and collecting of rates
and charges for the use of the facilities of the market.

SEC. 14 13. And be it further enacted:

(Tax Exemption.) It is hereby found, determined and declared
that the establishment of the market under the provisions of this
Act is in all respects for the benefit of the inhabitants of the State of
Maryland or its political subdivisions and is a public purpose, and that
the State of Maryland or its political subdivisions and the Authority
will be performing an essential governmental function in the exer-
cise of the powers conferred by this Act, and the Authority shall not
be required to pay any taxes or assessments upon the market or any
part thereof or upon its activities in the operation and maintenance
of the market or upon any revenues therefrom, and the market and
the bonds of the Authority and the interest thereon shall be and re-
main forever exempt from all state, municipal and local taxation;
provided, however, that the Authority shall pay to the State of Mary-
land or any of its political subdivisions within three months after the
close of each fiscal year of the Authority, the amount determined by
any contract entered into by and between the Authority and the State
of Maryland or any of its political subdivisions as the amount to be
paid to the State of Maryland or any of its political subdivisions in
lieu of taxes; provided, further, the amount so to be paid pursuant
to any such contract shall not be in excess of the amount of the annual
ad valorem property tax ivhich shall have been levied by the State of
Maryland or any of its political subdivisions upon any part of any