420                               LAWS OF MARYLAND                       [CH. 160

(e) Interim receipts or temporary bonds. Prior to the prepa-

ration of definitive bonds, the Board may, under like restrictions, in

the name of the Authority, issue interim receipts or temporary

bonds, with or without coupons exchangeable for definitive bonds
when such bonds have been executed and are available for delivery.

   (f) Lost or destroyed bonds. The Board may also provide for

the replacement under such conditions as it may prescribe of any

bonds which shall become mutilated or be destroyed or lost.

(g) Exemption. Bonds may be issued under the provisions of this
Article without obtaining the approval or consent of the State of
Maryland, or of any agency or political subdivision thereof, and
without any other proceeding or the happening of any other condi-

tion or thing than those proceedings, conditions or things which are

specifically required by this Article. The provisions of Sections 9, 10

and 11 of Article 31 of the Annotated Code of Maryland (1964 Re-
placement Volume as amended), shall not apply to bonds issued

under the provisions of this article.

25. 24. Bonds OR OTHER EVIDENCES OF INDEBTEDNESS

exempt from taxation.

The exercise of the powers granted by this Article will be in all
respects for the benefit of the people of the State of Maryland, for
the increase of their commerce and prosperity, and for the improve-
ment of their health and living conditions, and as the operation and
maintenance of the projects by the Authority will constitute the per-
formance of essential governmental functions, the bonds OR OTHER
EVIDENCES OF INDEBTEDNESS issued under this Article, their
transfer and the income therefrom (including any profit made on the
sale thereof) shall be free at all times from all Federal, State, munic-
ipal, and local taxation.

26. 25. Capital Budget.

The Authority shall annually prepare a capital budget, including
all capital projects it proposes to undertake or continue during the
budget period and containing a statement of the estimated cost of
each project and the method of financing thereof.

27. 26. Current Expense Budget.

The Authority shall annually prepare a current expense budget. In
accordance with the plan of financing adopted by the Authority,
such budget shall include the Board's estimated expenditures for
administration, operation, maintenance and repairs, debt service re-
quirements and paymen