Marvin Mandel, Governor                        1163

interchanges, entrance plazas, toll stations and service facilities in
connection therewith, and the Hawkins Point Port Facility, and shall
also include any additions, improvements or enlargements to any
such project heretofore or hereafter authorized.

2. General authority to borrow money and issue bonds or notes.

The Department is hereby authorized and empowered to finance
the cost of transportation facilities and, through the Authority, the
cost of any transportation facilities project, to borrow money or
incur indebtedness therefore from time to time, and to evidence such
borrowing or indebtedness by the issuance and sale of its bonds,
revenue bonds or notes upon the terms, conditions and limitations
contained in this subtitle.

3. Transfer of authority from other agencies.

The power, authority, obligations, duties and discretion heretofore
granted under any act of the General Assembly of -Maryland to the
Maryland Port Authority, Metropolitan Transit Authority or the
State Roads Commission of Maryland relating to the borrowing of
money, the incurring of indebtedness or the issuance, sale, delivery
or repayment of general or special obligation bonds, revenue ANY
bonds, notes or other evidences of indebtedness, including
bonds of prior issues and REVENUE BONDS OF PRIOR ISSUES
AND INCLUDING the unexercised borrowing power contained in
any such act, are hereby transferred, granted to and vested exclu-
sively in the Maryland Transportation Department and, with respect
to revenue DEPARTMENT OF TRANSPORTATION AND, WITH
RESPECT TO SUCH REVENUE bonds only, in the Maryland Trans-
portation Authority.

Consolidated Transportation Bonds
4. Authority to issue bonds.

(a)    The Department is hereby authorized and empowered to issue
from time to time on behalf of the State of Maryland its bonds for
the purpose of financing the cost of any one or more or combination
of one or more transportation facilities. The bonds shall be known
as "Consolidated Transportation Bonds" and may be issued in any
amount as long as the aggregate outstanding and unpaid principal
balance of such bonds does not exceed at any one time the sum of
$500,000,000, which sum shall include the outstanding and unpaid
aggregate principal balance due on the bonds of prior issues.

(b)    Bonds shall be issued hereunder pursuant to one or more
resolutions of the Secretary, in which he shall describe generally the
transportation facilities the cost of which is proposed to be financed
by the sale of bonds and the estimated cost of financing such facili-
ties, and in the adoption of which the Secretary shall have full and
complete authority and discretion to fix and determine, with respect
to the bonds to be issued and sold thereunder: (i) the date or dates
of issue; (ii) the date or dates and amount or amounts of maturities
which need not be in equal principal amounts or in consecutive
annual installments; (iii) the rate or rates of interest payable there-
on or the manner of determining the same, and the date or dates of
such payment; (iv) the tenor, form or forms, denomination or de-
nominations, manner of execution, which may be by facsimile (pro-
vided only that the Secretary or Deputy Secretary shall manually