SPIRO T. AGNEW, Governor                      1393

21.    Terms and conditions of bonds previously issued not impaired.

Nothing contained in this subtitle shall be deemed or construed to
impair the terms and conditions of any bonds, notes, or other obliga-
tions of any code county issued by the county or authorized to be
issued by the county prior to the adoption of code home rule status.

Limitations on Property Tax Rate

22.    Authority of General Assembly; intent.

Under the provisions of Section 8 of Article 11F of the Constitu-
tion of Maryland the General Assembly has exclusive power, by local
law, to limit the rate of property taxes which may be imposed by a
code county or to regulate the maximum amount of indebtedness
which may be incurred by a code county. It is the intent of the
General Assembly that this authority should only be exercised when
there is the possibility that the code county is imposing an exces-
sive rate of property taxation or is incurring indebtedness in an
excessive amount.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved May 4, 1967.

CHAPTER 651
(Senate Bill 22)

AN ACT to add new Sections 2(a) (49b) and 71D to Article 66˝
of the Annotated Code of Maryland (1957 Edition and 1966 Sup-
plement), title "Motor Vehicles," subtitles respectively "In Gen-
eral" and "Administration—Registration—Titling," to follow im-
mediately after Sections 2 (a) (49a) and 71C respectively, to provide
for a procedure for the sale and disposition of motor vehicles or
part thereof, which have only a APPARENT salvage value ONLY,
and which have been abandoned by the owner or person entitled to
its possession, to specify the procedure for declaring the salvage
value of such vehicles or parts and for the sale thereof, to provide
for the issuance of evidence of ownership for the vehicle to a pur-
chaser or to a wrecker or dismantler of motor vehicles, to define the
salvage value of a motor vehicle, and to declare the liability of a
seller of such a vehicle or part under this act.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Sections 2(a) (49b) and 71D be and they are hereby added
to Article 66˝ of the Annotated Code of Maryland (1957 Edition
and 1966 Supplement), title "Motor Vehicles," subtitles respectively
"In General" and "Administration—Registration—Titling," to follow
immediately after Sections 2 (a) (49a) and 71C respectively, and all
to read as follows:

2.(a)

(49b) Salvage Value. This term shall mean and be restricted to
those vehicles which do not have a marketable value other than the
value of the basic materials used in the construction of such vehicles.