1062                             Laws of Maryland                       Ch. 467

which secures them. A concise financial statement of the authority
shall be published annually, in a newspaper of general circulation in
Montgomery County. If such publication is not made by the author-
ity, the County [council of Montgomery County] Executive shall
publish such statement at the expense of the authority. If the author-
ity fails to make such audit, then the County [manager of Mont-
gomery County] Executive or his designated agents may [be desig-
nated and empowered by the county council of Montgomery County]
from time to time to examine, at the expense of the authority, the
accounts and books of the authority, including its receipts, disburse-
ments, contracts, leases, sinking funds, investment and any other
matters relating to its finances, operation and affairs. The County
Attorney shall have the right to examine the books, accounts and
records of the authority.

1(16) (2-168) Tax exemption; assessments.

(a) It is hereby found, determined and declared that the estab-
lishment of the project or projects under the provisions of this Article
is in all respects for the benefit of the inhabitants of Montgomery
County and is a public purpose, and that [the county council of]
Montgomery County and [of] the State of Maryland and the author-
ity will be performing an essential governmental function in the
exercise of the powers conferred by this Article, and the authority
shall not be required to pay any taxes or assessments upon any facil-
ity or any part thereof or upon its activities in the operation and
maintenance of any facility or upon any revenues therefrom, and
the project or projects and the bonds of the authority, the interest
thereon and any gain realized from the sale or exchange thereof shall
be and remain forever exempt from all state, municipal and local
taxation.

Sec. 2. And be it further enacted, That this Act shall take effect
December 7, 1970.

Approved April 28, 1970

CHAPTER 467
(House Bill 330)

AN ACT relating to the Washington Suburban Transit District to
re-enact with amendments Sections 72-5(a), 72-15, 72-16(a) and
72-19(b) of the Montgomery County Code 1965, as amended, and
Sections 83A-5(a), 83A-15, 83A-16(a) and Section 83A-19(b)
of the Public Local Laws of Prince George's County (1963 Edi-
tion), as amended, being Articles 16 and 17 respectively of the
Code of Public Local Laws of Maryland, titles "Montgomery
County" and "Prince George's County," subtitle "Washington Sub-
urban Transit District," to authorize the County Executive of
Montgomery County to appoint, subject to the confirmation of the
County Council, three members of the Washington Suburban
Transit Commission, to require the Commission to submit its