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Session Laws, 1969
Volume 692, Page 1341   View pdf image
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MARVIN MANDEL, Governor                      1341

[At any one time, under the provisions of these Sections 165A-
165J, inclusive, there shall not be issued an outstanding maximum
amount of bonds and refunding bonds which in the aggregate ex-
ceeds the sum of six million ($6,000,000) dollars.]

(d)    Bonds may be issued under the provisions of Sections 165A-
165J, inclusive, of this subtitle without obtaining the consent of any
department, division, commission, board, bureau, or agency of the
State, and without any other proceedings or the happening of any
other conditions or things than those proceedings, conditions or
things which are specifically required by the provisions of Sections
165A-165J, inclusive, of this subtitle. The provisions of Sections
9-11, inclusive, of Article 31 of the Annotated Code of Maryland
[(1957 Edition)] (1967 Replacement Volume), and any amend-
ments thereto, shall not apply to revenue bonds issued under the
provisions of Sections 165A-165J, inclusive, of this subtitle.

(e)    Any bonds issued under the authority of Sections 165A-
165J, inclusive, of this subtitle shall not [create or constitute any
indebtedness or obligation of the State of Maryland or of any polit-
ical subdivision thereof, except said board of trustees, either legal,
equitable, moral or otherwise, and the bonds shall so state on their
face; nor shall such bonds constitute a debt or obligation contracted
by the General Assembly or pledge the faith and credit of the State
within the meaning of Section 34 of Article III of the Constitution
of the State. Subject to the provisions of subsection 165C(f),] be
deemed to constitute a debt of the State or of any political subdivision
thereof or a pledge of the faith and credit of the State or any such
political subdivision, but such bonds shall be payable only from the
fees, rents, charges and revenues of auxiliary facilities to the extent
provided in this subtitle. All such bonds shall contain on the face
thereof a statement to the effect that neither the State nor any polit-
ical subdivision thereof shall be obligated to pay the same or the
interest thereon except from fees, rents, charges and revenues of
auxiliary facilities to the extent provided in this subtitle and a state-
ment to the effect that neither the faith and credit nor the taxing
power of the State or any political subdivision thereof is pledged to
the payment of the interest on
OR PRINCIPAL OF such bonds, [o]
Only fees, rents, charges and revenues received from the use of [the
housing unit or housing units constructed from the proceeds of the
bonds issued under the provisions of Sections 165A-165J, inclusive,
of this subtitle] , OR IMPOSED AND COLLECTED IN CONNEC-
TION WITH, any auxiliary facility shall be used or appropriated for
the payment of the interest on or the principal of such bonds; pro-
vided, however, that all or any part of [the] such fees, rents, charges
and revenues [received from the use of the related facilities in the
housing unit or housing units constructed from t