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Session Laws, 1955
Volume 620, Page 739   View pdf image (33K)
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THEODORE R. McKELDIN, GOVERNOR                   739

THAN TWO IN NUMBER MAY BE ESTABLISHED IN EACH
SERVICE AREA ALONG ANY TURNPIKE. EXPRESSWAY,
AND THE FUEL PRODUCTS OFFERED FOR SALE AND SOLD
ON SAID EXPRESSWAY SHALL BE SOLD AT NOT MORE
THAN THE PRICE PREVAILING FOR SAID PRODUCTS AT
SERVICE STATIONS ADJACENT TO AND IN THE VICINITY
OF SAID EXPRESSWAY. In the event an acceptable bid shall
be received in the judgment of the Commission, each such lease shall
be awarded to the highest responsible bidder therefor, but no person
shall be awarded or have the use of, nor shall motor fuel identified
by the trade marks, trade names or brands of any one supplier, dis-
tributor or retailer of such fuel be sold at more than one service
station if they would constitute more than twenty-five per centum of
the service stations on the entire project.

126J. (Trust Funds.) All moneys received pursuant to the
authority of this sub-title, whether as proceeds from the sale of
bonds or as revenues,, shall be deemed to be trust funds to be held
and applied solely as provided in this sub-title. The resolution
authorizing the bonds or the trust agreement securing such bonds
shall provide that any officer with whom, or any bank or trust com-
pany with which, such moneys shall be deposited shall act as trus-
tee of such moneys and shall hold and apply the same for the pur-
poses hereof, subject to such regulations as this sub-title and such
resolution or trust agreement may provide.

126K. (Remedies.) Any holder of bonds issued under the pro-
visions of this sub-title or any of the coupons appertaining thereto,
and the trustee under any trust agreement, except to the extent the
rights herein given may be restricted by such trust agreement or
the resolution authorizing the issuance of such bonds, may, either
at law or in equity, by suit, action, mandamus or other proceeding,
protect and enforce any and all rights under the laws of the State
or granted hereunder or under such trust agreement or the reso-
lution authorizing the issuance of such bonds, and may enforce and
compel the performance of all duties required by this sub-title or
by such trust agreement or resolution to be performed by the Com-
mission or by any officer thereof, including the fixing, charging and
collecting of tolls.

126L. (Negotiable Instruments.) Notwithstanding any of the
foregoing provisions of this sub-title or any recitals in any bonds
issued under the provisions of this sub-title, all such bonds shall be
deemed to be negotiable instruments under the laws of this State.

126M. (Exemption from Taxation.) The exercise of the powers
granted by this sub-title will be in all respects for the benefit of the
people of the State, for the increase of their commerce and pros-
perity, and for the improvement of their health, living conditions
and general welfare, and as the operation and maintenance of the
Expressway by the Commission will constitute the performance of
essential governmental functions, the Commission shall not be re-
quired to pay any taxes or assessments upon the Expressway or
any property acquired or used by the Commission under the provi-
sions of this sub-title or upon the income therefrom, and the bonds
issued under the provisions of this sub-title, their transfer and the
income therefrom (including any profit made on the sale thereof)


 

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Session Laws, 1955
Volume 620, Page 739   View pdf image (33K)
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