14                          JOURNAL OF PROCEEDINGS                   [Mar. 8

pair and operation thereof; granting to the Authority power under certain
conditions to acquire necessary real and personal property and to exercise
the power of eminent domain; providing for the issuance of special obliga-
tion bonds of the Authority in an aggregate principal amount not exceed-
ing Fifteen Million Dollars ($15,000,000), payable from the proceeds of
the tax on the net income of certain corporations under Section 283 (D-2)
of Article 81 of the Annotated Code of Maryland as enacted by this Act,
and for the issuance of revenue bonds of the Authority, payable solely
from rentals and other revenues of the Authority; providing for the appli-
cation of such tax on the net income of certain corporations to the pay-
ment of such special obligation bonds and to the cost of maintenance, re-
pair and operation of such port facilities and to the administrative ex-
penses of the Authority; authorizing the issuance of revenue refunding
bonds; prescribing the powers and duties of the Authority in connection
with the foregoing and the rights and remedies of the holders of bonds
issued under the provisions of said Article 62B; providing penalties for a
violation of the provisions of said Article 62B and of any rule or regula-
tion lawfully adopted or promulgated by the Authority; to add Section
283 (D-2) to Article 81 of said Code (1951 Edition and 1955 Supplement),
title 'Revenue and Taxes', sub-title 'Income Tax', to follow immediately
after Section 283 (D-l) 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 authorize
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 Baltimore', 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 Sections 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 certain officers and employees of the Mayor and City
Council of Baltimore 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 relating generally to the Mary-
land Port Authority, its powers, duties and operations."

Which was read the first time and referred to the Committee on Ways
and Means.

Senate Bill No. 2—By Senator Turnbull:

A Bill entitled "An Act making an emergency appropriation for the
payment of the expenses of the General Assembly of Maryland for the
Extraordinary Session of 1956."

Which was read the first time and referred to the Committee on Ways
and Means.