J. MILLARD TAWES, Governor                     1379

become due and payable, and to create reserves for such purposes.
Such tolls shall not be subject to supervision or regulation by any
other commission, board, bureau or agency of the State. The tolls
and all other revenues derived from the Expressway, except (i) such
part thereof as shall be payable to the Fidelity-Baltimore National
Bank & Trust Company, as trustee under the trust agreement, dated
as of October 1, 1954, hereinbefore referred to, pursuant to the
provisions of said supplemental agreement which may be entered
into by the Commission pursuant to the provisions of Section 141 of
this subheading and (ii) such part thereof as may be necessary to
pay such cost of maintenance, repair and operation and to provide
such reserves therefor as may be provided for in the resolution
authorizing the issuance of such bonds or in the trust agreement
securing the same, shall be set aside at such regular intervals as
may be provided in such resolution or such trust agreement in a
sinking fund which is hereby pledged to, and charged with, the
payment of (1) the interest upon such bonds as such interest shall
become due, (2) the principal of such bonds as the same shall become
due, (3) the necessary charges of paying agents for paying principal
and interest, and (4) the redemption price or the purchase price of
bonds retired by call or purchase as therein provided. Such pledge
shall be valid and binding from the time when the pledge is made;
the tolls or other revenues or other moneys so pledged and thereafter
received by the Commission shall immediately be subject to the
lien of such pledge without any physical delivery thereof or further
act, and the lien of any such pledge shall be valid and binding as
against all parties having claims of any kind in tort, contract or
otherwise against the Commission, irrespective of whether such
parties have notice thereof. Neither the resolution nor any trust
agreement by which a pledge is created need be filed or recorded
except in the records of the Commission. To the extent permitted
by any existing or future resolution authorizing the issuance of such
bonds or by any existing or future trust agreement securing the
same, the Commission is hereby authorized, after adequate provision
has been made for deposits to the sinking fund to meet the payments
with which such sinking fund is charged as provided in such resolu-
tion or such trust agreement, to use tolls and all other revenues
derived from the Expressway to pay the cost of the Expressway,
including any additions, improvements and betterments to the Ex-
pressway as initially constructed together with engineering and
other expenses incurred in connection with such additions, improve-
ments and betterments. The use and disposition of moneys to the
credit of such sinking fund shall be subject to the provisions of the
resolution authorizing the issuance of such bonds or of such trust
agreement. Except as may otherwise be provided in such resolution
or such trust agreement, such sinking fund shall be a fund for all
such bonds without distinction or priority of one over another.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 30, 1963.