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Session Laws, 1965
Volume 676, Page 822   View pdf image (33K)
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822                                LAWS OF MARYLAND                       [CH. 603

The term "port facility" also shall mean and shall include an
international trade center constituting a facility of commerce and
consisting of one or more buildings, structures, improvements and
areas necessary, convenient or desirable in the opinion of the
Authority for the centralized accommodation of functions, activities
and services for or incidental to the transportation of persons by
water, the exchange, buying, selling and transportation of commodi-
ties and other property in international and national water-borne
trade and commerce, the promotion and protection of such trade and
commerce, and governmental services related to the foregoing and
other Federal, State and municipal agencies and services, including
but not limited to foreign trade zones, offices, marketing and exhibi-
tion facilities, terminal and transportation facilities, custom houses,
customs stores, inspection and appraisal facilities, parking areas,
commodity and security exchanges, and, in the case of buildings,
structures, improvements and areas in which such accommodation
is afforded, shall include all of such buildings, structures, improve-
ments and areas, notwithstanding that other portions of such build-
ings, structures, improvements and areas may not be devoted to
purposes of the international trade center other than the production
of incidental revenue available for the expenses and financial obli-
gations of the Authority in connection with the international trade
center.

Sec. 2. And be it further enacted, That this Act is hereby
declared to be an emergency measure and necessary for the imme-
diate preservation of the public health and safety, and having been
passed by a yea and nay vote supported by three-fifths of the mem-
bers elected to each of the two Houses of the General Assembly of
Maryland, the same shall take effect from the date of its passage.

Approved April 8, 1965.

CHAPTER 603
(Senate Bill 457)

AN ACT to repeal and re-enact, with amendments, Sections 10 (d)
and 12 of Article 62B of the Annotated Code of Maryland (1964
Replacement Volume), title "Maryland Port Authority", to provide
that revenue bonds issued pursuant to the provisions of this
Article shall be payable out of proceeds realized from additional
securities held under any trust agreements, in addition to other
revenues provided, and that said trust agreements shall state that
neither the Authority, State or political subdivision shall be obli-
gated thereunder; and to further provide that if bonds are issued
under a trust agreement to provide funds for paying the cost of
any port facility, that the Authority may convey or assign said
facility as security therefor.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 10 (d) and 12 of Article 62B of the Annotated Code
of Maryland (1964 Replacement Volume), title "Maryland Port
Authority", be and they are hereby repealed and re-enacted, with
amendments, to read as follows:

 

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Session Laws, 1965
Volume 676, Page 822   View pdf image (33K)
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