SPIRO T. AGNEW, Governor                     1467

3. (Purposes and Powers of Authority)—

The Authority is created for the purpose of constructing, im-
proving, equipping, furnishing, maintaining, acquiring, and oper-
ating the following projects to be devoted wholly or partially for
public uses, good or general welfare: projects to stimulate employ-
ment or economic growth in the County; [:] Airports and landing
fields; public housing projects; housing for special age groups;
health and welfare facilities, including hospitals and sanatoria;
bridges, toll bridges, and tunnels; parks, swimming pools, arenas,
stadium and recreational facilities of all kinds; dams, impounding
basins and flood control, water supply, and sewerage disposal proj-
ects; parking facilities of every type and description; highways,
parkways, traffic distribution centers, and facilities necessary or in-
cident thereto; and public transportation facilities and systems of
every type and description.

6. (Revenue Bonds)

(c) The revenue bonds, certificates or other evidence of indebted-
ness of each issue shall be dated, shall bear interest at such rate
or rates not exceeding the maximum legal rate per annum allow-
able by law, payable semi-annually, and shall mature at such time
or times, not exceeding [thirty (30)] fifty (50) years from their
date or dates, as may be determined by the Authority. The bonds
of each issue may be made redeemable before maturity at the
option of the Authority at such price or prices and under terms
and conditions as may be fixed by the Authority prior to the issuance
of the bonds. The Authority shall determine the form of the bonds,
including any interest coupons to be attached thereto, and shall
fix the denomination or denominations of the bonds and the place or
places of payment of principal and interest which may be at any
bank or trust company within or without the State. The payment
of principal and interest of the bonds hereby authorized may be
made in any lawful medium. The Authority shall determine the
manner of executing the bonds which may be by facsimile signature
of its Chairman, and the manner of executing the interest coupons
attached thereto which also may be by facsimile signature of its
Chairman; the official seal of the Authority shall be affixed to the
bonds and they shall be attested by its Secretary. In case any officer
whose signature or a facsimile of whose signature shall appear on
any bonds or coupons shall cease to be such officer before the de-
livery of such bonds, such signature or such facsimile shall never-
theless be valid and sufficient for all purposes the same as if he
had remained in office until such delivery.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved May 7, 1968.

CHAPTER 722
(House Bill 812)

AN ACT to add new Section 229A to Article 23 of the Annotated Code
of Maryland (1966 Replacement Volume), title "Corporations,"