MARVIN MANDEL, Governor                        1531

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 22A(b) of Article 89B of the Annotated Code of Mary-
land (1968 Supplement), be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

22A.

(b) The Director of Highways, with the approval of the State
Roads Commission, may enter into an agreement or agreements, sin-
gly or jointly, with the trustees of the Employees' Retirement System
of the State of Maryland, the Teachers' Retirement System of the
State of Maryland or the State Police Retirement System of the State
of Maryland for the acquisition of real property that the State Roads
Commission deems will be necessary for the future improvement of
the State roads system. Such agreements shall provide that the title
to such property to be so acquired to be taken in the name of the
State Roads Commission of Maryland to the use of the State of
Maryland, and for the simultaneous execution of a first mortgage
by the State Roads Commission, acting for the State of Maryland,
for the full amount of the acquisition price for such property, to
the retirement system lending such acquisition price. Such agree-
ments may be entered into for the acquisition and financing as
aforesaid of an individual parcel or of any number of parcels within
the limits of a contemplated highway project. Such mortgages shall
provide for the payment of interest at a rate [not to exceed six
(6%) percent per annum] , to be determined by the parties, payable
annually to such mortgagees, shall provide also that the duration of
such mortgage shall be for no longer than five (5) years subject to
prepayment at any time prior to the expiration of such five-year
term, at the option of the Commission, upon payment of principal
and interest to the date of prepayment. Each such mortgage may
not extend beyond five years from the date it is entered into. The
total amount to be loaned hereunder by the retirement system for the
five-year period beginning June 1, 1967, and for any succeeding five-
year period, may not at any time exceed ten (10%) percent of the
combined total assets of the retirement systems, nor may the amount
loaned in any one year exceed one fifth of such total amount. The
total amount loaned by any one of the retirement systems may at
no time exceed ten (10%) percent of its assets. Such property may
be acquired by purchase or condemnation under the provisions of
Article 33A or Article 89B of the Annotated Code of Maryland.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1,1969.

Approved May 14, 1969.

CHAPTER 691
(House Bill 757)

AN ACT to repeal and re-enact, with amendments, Sections 116 (a)
(b), (e), (g), 117(b), (c), (d), (e), 119(2), (4)(a), 122(a),
and 137(a) of Article 66½ of the Annotated Code of Maryland
(1967 Replacement Volume), title "Motor Vehicles," subtitle
"Motor Vehicle Financial Responsibility"; and to repeal Sections