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Session Laws, 1970
Volume 695, Page 1161   View pdf image
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Marvin Mandel, Governor                          1161

as of January 1, 1962), State of Maryland Bridge and Tunnel Revenue
Bonds (Series 1968) (dated as of October 1, 1968) and Maryland
Port Authority Revenue Bonds (Series 1958A) (dated as of October
1,1958).

(d)    The term "Code" shall mean the 1957 Edition of the Anno-
tated Code of Maryland, as replaced, amended and supplemented
from time to time.

(e)    The term "cost" as applied to transportation facilities or any
transportation facilities project shall include the cost of construc-
tion, reconstruction, acquisition, improvement, extension, alteration,
modernization, planning, maintenance and repair of any such facili-
ties or project, including the cost of all interests in property acquired
in connection therewith, any financing charges and interest prior to,
during and for one year after completion of construction, financial,
architectural, consulting, engineering and legal services, plans, spec-
ifications, surveys, estimates, feasibility reports, direct and indirect
labor, materials, equipment and administrative expenses, and all
other expenses which may be incident to the construction, recon-
struction, acquisition, improvement, extension, alteration, modern-
ization, maintenance or repair of transportation facilities or any
transportation facilities project or the financing thereof.

(f)    The terms "Department," "Authority" and "Secretary" shall
mean, respectively, the Department of Transportation, the Maryland
Transportation Authority and the Secretary of Transportation.
Unless expressly provided otherwise, the Secretary shall be respon-
sible for the exercise of all powers, duties and functions conferred
upon the Department by the provisions of this Article.

(g)    The term "highway facilities" shall include any one or more
or combination of projects involving the rehabilitation and recon-
struction of roads in the State highway system, both primary and
secondary, to meet present and future needs, and the development
and construction in new locations of new roads necessitated by traffic
demands to become parts of the primary and secondary system of the
State highway system, including all property rights, materials, facili-
ties and structures incident thereto, and further including the pro-
viding of State participating funds for federally aided highway
projects.

(h) The term "outstanding and unpaid" shall not include bonds
purchased and held by or for the Department or Authority in sinking
funds, nor matured bonds not presented for payment, nor bonds
called for redemption but not presented for redemption, if the
monies for such payment or redemption have been provided.

(i) The term "port facilities" shall include any one or more or
combination of lands, piers, docks, wharves, warehouses, sheds,
transit sheds, elevators, compressors, refrigeration storage plants,
buildings, structures and other facilities, appurtenances, and equip-
ment necessary or useful in connection with the operation of a modern
port and every kind of terminal or storage structure or facility now
in use or hereafter designed for use in the handling, storage, loading
or unloading of freight or passengers at steamship terminals, and
every kind of transportation facility now in use or hereafter designed
for use in connection therewith. The term "port facilities" shall also
include an international trade center constituting a facility of com-


 

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Session Laws, 1970
Volume 695, Page 1161   View pdf image
 Jump to  
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