Theodore R. McKeldin, Governor                     11

283 (D-1) thereof, providing for the imposition of a tax at the rate
of one-half of one per centum on the net income of certain corpora-
tions, and for the disposition of the proceeds of such tax; to author-
ize and direct the said Authority and the Mayor and City Council
of Baltimore to provide by agreement for the apportionment of the
duty to perform the functions, obligations and requirements now
vested in the said Mayor and City Council by Section 6 (10) of the
Charter of Baltimore City (1949 Edition), title "City of Baltimore",
sub-title "General Powers", sub-heading "Harbor, Docks and
Wharves", by Section 6 (24A) of said Charter, title "City of Balti-
more", sub-title "General Powers", sub-heading "Port Develop-
ment", as said section was enacted by Chapter 200 of the Acts of
1951 and amended by Chapter 753 of the Acts of 1953, and by Sec-
tions 321 to 326, inclusive, and Section 641 of the Code of Public
Local Laws of Baltimore City (1949 Edition), being Article 4 of
the Code of Public Local Laws of Maryland, title "Baltimore City",
sub-title 'Harbor, Docks and Wharves"; relating generally to cer-
tain officers and employees of the Mayor and City Council of Balti-
more and to their transfer to the employment of the Authority;
providing for arbitration as between the Authority and the Mayor
and City Council of Baltimore in the reapportionment of the duty
to perform the said functions, obligations and requirements and in
the transfer of the said employees; terminating the power of the
Mayor and City Council of Baltimore under certain conditions to
issue or sell certain stock or certificates of indebtedness; and relat-
ing generally to the Maryland Port Authority, its powers, duties
and operations.

Section 1. Be it enacted by the General Assembly of Maryland,
That a new Article be and the same is hereby added to the Anno-
tated Code of Maryland (1951 Edition), said new Article to be num-
bered 62B, title "Maryland Port Authority", to follow immediately
after Article 62A, and to read as follows:

ARTICLE 62B
MARYLAND PORT AUTHORITY

1. (Statement of Legislative Intent.) (a) The General Assembly
of Maryland makes the following declaration as a statement of its
legislative intent in the enactment of this Article and of its accom-
panying legislation:

(b)  The ports and harbors of the State of Maryland are assets of
value to the entire State, and the residents of all parts of the State
benefit directly from the water-borne commerce which they attract
and service. Any improvement to those ports and harbors which
increase their export and import commerce will benefit the people
of the entire State of Maryland.

(c)  The purpose of the General Assembly in enacting this Article
is to increase the water-borne commerce of the ports in the State,
and thereby to benefit the people of the State of Maryland. Com-
merce may be attracted to these areas by (1) developing existing
facilities to provide quicker, cheaper and more effective handling of
cargoes and also by (2) effectively advertising and promoting the
facilities and the use of the several port areas.