160                               LAWS OF MARYLAND                        [CH. 126

of the Code of Public Local Laws of Maryland, title "Baltimore
County", said new sections constituting a new Title of said Code
to be known as Title 31, "Baltimore County Revenue Authority",
said new sections to be known as Sections 426 to 440B, inclusive,
said Act establishing a public corporation to be known as the
Baltimore County Revenue Authority and defining its member-
ship and procedures for the conduct of its affairs; conferring
thereon various powers, all as expressly set forth in said Act;
defining the powers and duties of the County Commissioners of
Baltimore County which relate to said Authority; granting to said
Authority the power to borrow money and to issue negotiable
revenue bonds, and defining and describing said bonds, all as
expressly set forth in said Act; describing the resolution author-
izing the issue of any of such bonds and the trust indenture to
secure the same; providing for the rights and remedies of bond-
holders and bondholders liens resulting from an issue of any of
such bonds; providing that the credit of Baltimore County, the
State of Maryland or any political sub-division thereof shall not be
pledged by the issuance of such bonds; stating methods by which
said Authority shall award contracts; providing for the deposit
of funds by the Authority and the examination of its books and
records; limiting the power of the State of Maryland to change
the power of the Authority; granting tax exemptions to the projects
of the Authority and the bonds issued thereby; and making bonds
issued by the Authority eligible for investment in this State.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That seventeen (17) new sections be and they are hereby added to
the Code of Public Local Laws of Baltimore County (1948 Edition),
being Article 3 of the Code of Public Local Laws of Maryland, title
"Baltimore County", said new sections constituting a new Title of
said Code to be known as Title 31, "Baltimore County Revenue
Authority", and being Sections 426 to 440B, both inclusive, said new
sections to follow immediately after Section 425 of said Code and
to read as follows:

426. (Baltimore County Revenue Authority.) There is hereby
created a body corporate and politic to be known as the "Baltimore
County Revenue Authority", which shall be deemed an instrumen-
tality of the County Commissioners of Baltimore County and a public
corporation. The Authority shall consist of five (5) members to be
appointed by the County Commissioners of Baltimore County, each
of whom shall be a resident of Baltimore County at the time of
his appointment. The original appointments shall be made in such
manner that the term of one member shall expire on July 1, 1956,
the term of another member shall expire on July 1, 1957, the term
of another member shall expire on July 1, 1958, the term of another
member shall expire on July 1, 1959, and the term of the remaining
member shall expire July 1, 1960. Their successors shall be ap-
pointed for terms of five (5) years from the date of expiration of
their respective terms of office, except that any person appointed
to fill a vacancy shall serve only for the unexpired term, and any
member of the Authority shall be eligible for reappointment. The
County Commissioners of Baltimore County shall name one member,
so appointed, as Chairman of the Authority and shall name, from
time to time, all successor Chairmen of the Authority as vacancies
in that office shall occur. The members of the Authority shall elect