1392                            LAWS OF MARYLAND                      [CH. 650

(c)    Effect of limitation on power to levy taxes. If at the time of
issuance of the bonds there is a statutory limitation upon the power
of the code county to. levy property taxes, this pledge constitutes a
covenant on the part of the county to levy ad valorem taxes as above
described within the limitations so prescribed by law.

(d)    Covenants not affected by subsequent statute. No statute
adopted or enacted after the date of issue of bonds of the types
described in subsections (b) and (c) above, which places a maximum
limit on the rate at which property taxes may be imposed by the
county, or which removes any limit theretofore existing, shall be
taken or construed as impairing or in any manner affecting the
covenants of the county with respect to its bonds outstanding at the
time the statute becomes effective.

(e)    Effect of limitation on county indebtedness. No bonds shall
be issued by a county pursuant to the provisions of this subtitle, if,
by the issuance thereof, existing maximum limits on the power of
the county to. incur indebtedness fixed by statute shall be exceeded,
but no such maximum limitation imposed subsequent to the issue of
the bonds shall be taken or construed as impairing or in any man-
ner affecting the obligation thereof, nor shall the obligation of any
outstanding bonds of a county be taken or construed as having been
impaired or in any manner affected by the issuance of bonds pur-
suant to an increase in the maximum limitation on the power to incur
indebtedness, or the elimination of the maximum limitation, enacted
subsequent to the issue of the outstanding bonds.

(f)    Pledge of additional revenues. Any code county, in addition
to the pledge of its faith and credit and taxing power for the pay-
ment of the principal of and interest on the bonds, may secure the
payment by the additional pledge thereto of any other revenues of
the county, including payments to the county from the State or
federal governments and special benefit assessments, taxes, fees, or
service charges which the county is authorized and empowered to
impose, levy, or charge; and to the extent that the revenues are
sufficient in any year to provide for the payment of the principal of
and interest on the bonds to which they are pledged, the county
shall not be obligated in that year to levy property taxes also pledged
thereto; and the failure of the county to levy such property taxes, so
long as the additional revenues are sufficient to satisfy the pledge,
shall not be taken or construed as a breach of any of the above-
described payments of the county.

20. Bonds payable solely from revenues of revenue-producing
project.

Every code county by enactment of local law in the manner
prescribed in this Article may provide for the issuance by the county
of bonds payable as to principal and interest solely from the revenues
of one or more revenue-producing projects of the county, which
bonds shall not constitute an indebtedness of the county to which
its faith and credit or taxing power are pledged; and nothing con-
tained in this subtitle shall be construed as a limitation on the power
of a code county to issue revenue bonds under the provisions of any
applicable general law or to make provision by local law for the
issuance of revenue bonds.