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Session Laws, 1955
Volume 620, Page 741   View pdf image (33K)
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THEODORE R. McKELDIN, GOVERNOR                     741

cost of maintaining, repairing and operating the Expressway, and
such tolls may be continued until such sum shall have been reimbursed
to the Commission.

126Q. (Preliminary Expenses.) The Commission is hereby author-
ized to expend out of any funds available for the purpose such moneys
as may be necessary for the study of the Expressway and to use its
engineering and other forces, and the services of consulting engineers
and traffic engineers, for the purpose of effecting such study and
to pay for such additional engineering and traffic and other expert
studies as it may deem expedient, and all such expenses incurred by
the Commission prior to the issuance of revenue bonds under the
provisions of this sub-title shall be paid by the Commission and
charged to the Expressway, and the Commission shall keep proper
records and accounts showing each amount so charged. Upon the
sale of revenue bonds for the Expressway, the funds so expended
by the Commission in connection with the Expressway shall be
reimbursed to the Commission from the proceeds of such bonds.

126R. (Revenue Refunding Bonds.) The Commission is hereby
authorized to provide by resolution for the issuance of revenue re-
funding bonds of the State for the purpose of refunding any bonds
then outstanding which shall have been issued under the provisions
of this sub-title, including the payment of any redemption premium
thereon and any interest accrued or to accrue to the date of redemp-
tion of such bonds, and, if deemed advisable by the Commission, for
the additional purpose of constructing any remaining part or parts
of the Expressway or improvements, extensions or enlargements of
the Expressway. The issuance of such bonds, the maturities and
other details thereof, the rights and remedies of the holders thereof,
and the rights, duties and obligations of the Commission in respect
of the same, shall be governed by the provisions of this sub-title
insofar as the same may be applicable.

126S. (Additional Method.) The foregoing sections of this sub-
title shall be deemed to provide an additional and alternative method
for the doing of the things authorized thereby, 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 exist-
ing; provided, however, that the issuance of revenue bonds or revenue
refunding bonds under the provisions of this sub-title need not
comply with the requirements of any other law applicable to the
issuance of bonds.

126T. (Liberal Construction.) The provisions of this sub-title,
being necessary for the welfare of the State and its inhabitants,
shall be liberally construed to effect the purposes thereof.

126U. (Constitutional Construction.) The provisions of this sub-
title are severable, and if any of its provisions shall be held unconsti-
tutional by any court of competent jurisdiction, the decision of such
court shall not affect or impair any of the remaining provisions.

126V. (Inconsistent Laws Inapplicable.) All other general or
special laws, or parts thereof, inconsistent herewith are hereby
declared to be inapplicable to the provisions of this sub-title.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1955.

Approved April 18, 1955.

 

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Session Laws, 1955
Volume 620, Page 741   View pdf image (33K)
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