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Session Laws, 1955
Volume 620, Page 1110   View pdf image (33K)
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1110                             LAWS OF MARYLAND                        [CH. 662

market property in the last tax levy prior to the acquisition thereof
by the Authority, such payments, however, to be made only from
the net revenues, if any, of the Authority for each of such fiscal
years which remain after (a) paying all expenses of maintaining,
repairing and operating the market, (b) making all required pay-
ments or transfers of money to the credit of the Sinking Fund for the
bonds issued under the provisions of this Act and then outstanding,
(c) setting aside reserves for such purposes, and (d) setting aside
reserves for depreciation, improvements and extensions of any
market, all as may be required by any such contract or by the resolu-
tion authorizing such revenue bonds or by the resolution authorizing
the trust indenture securing the same.

SEC. 15 14. And be it further enacted:

(Appropriation.) The Governor is hereby authorized and directed
to include in the State Construction Bond Bill for 1955 the sum of
Five Thousand Dollars ($5,000.00) for the use of said Authority.
The money so appropriated shall be used by the said Authority for
the purpose of organizing said Authority and paying any and all
costs and expenses incurred by said Authority in carrying out its
corporate purposes, prior to the sale of the first issue of revenue
bonds; the said sum of money hereby advanced to be repaid to the
State of Maryland from funds obtained from the sale of said first
issue of revenue bonds prior to any other payments from said funds.

SEC. 16 15. 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 conferred by other laws, and shall not be
regarded as in derogation of any powers now existing, and such pro-
visions shall be liberally construed to effect the purposes thereof.

SEC. 17 16. And be it further enacted:

(Provisions severable.) The provisions of this Act are severable,
and it is the intention to confer the whole or any part of the powers
herein provided for, and if any of the provisions of this Act shall be
held unconstitutional by any court of competent jurisdiction, the
decision of such court shall not affect or impair any of the remaining
provisions of this Act. It is hereby declared to be the legislative
intent that this Act would have been adopted had such unconstitu-
tional provision not been included therein.

SEC. 18 17. And be it further enacted:

(Inconsistent Laws Repealed.) All laws or parts of laws of the
State of Maryland, general and local, inconsistent with the provisions
of this Act, be, and the same are hereby repealed to the extent of
such inconsistency.

SEC. 19 18. And be it further enacted, That this Act shall take effect
June 1, 1955.

Approved April 25, 1955.

 

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Session Laws, 1955
Volume 620, Page 1110   View pdf image (33K)
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