1278                             Laws of Maryland                       Ch. 529

thority without the prior consent of the Board of Public Works of
the State of Maryland.

[7. PURCHASE OF FRIENDSHIP INTERNATIONAL AIR-
PORT.

(A) THE AUTHORITY SHALL PURCHASE, AND THE
MAYOR AND CITY COUNCIL OF BALTIMORE SHALL SELL
TO THE AUTHORITY FOR THE SUM OF TWENTY-TWO MIL-
LION DOLLARS, ANY AND ALL OF THE RIGHT, TITLE AND
INTEREST WHICH THE MAYOR AND CITY COUNCIL OF
BALTIMORE HAS IN THE AIRPORT FACILITIES KNOWN AS
FRIENDSHIP INTERNATIONAL AIRPORT UPON THE FOL-
LOWING TERMS AND CONDITIONS:

(1)  THE MAYOR AND CITY COUNCIL OF BALTIMORE
SHALL CONVEY BY LAWFUL INSTRUMENT ALL LAND
AND IMPROVEMENTS COMPRISING FRIENDSHIP INTER-
NATIONAL AIRPORT TO THE MARYLAND AIRPORT AU-
THORITY.

(2)  ALL OUTSTANDING BONDS IN THE AMOUNT OF
THREE MILLION SEVEN HUNDRED THOUSAND DOLLARS
($3,700,000) RESULTING FROM THE SEVENTH BOND ISSUE,
KNOWN AS THE SEVENTH AIRPORT SERIAL LOAN ISSUE
BY THE CITY OF BALTIMORE IN CONNECTION WITH THE
PAST DEVELOPMENT AND OPERATIONS OF FRIENDSHIP
INTERNATIONAL AIRPORT, AND ALL INTEREST PAYABLE
IN CONNECTION WITH THESE BONDS SHALL BE PAID BY
THE CITY OF BALTIMORE AND REIMBURSED BY THE
AUTHORITY ON AN ANNUAL BASIS.

(3)  UNTIL THE DATE OF TRANSFER HEREINBEFORE
MENTIONED, THE CITY OF BALTIMORE SHALL CONTINUE
THE CURRENT CAPITAL IMPROVEMENTS PROGRAMS IN
PROGRESS BY UTILIZING AUTHORIZED UNEXPENDED
STATE AND FEDERAL GRANTS TOGETHER WITH FUNDS
OF THE CITY OF BALTIMORE. IT IS UNDERSTOOD THAT
THESE IMPROVEMENTS PROGRAMS ARE THOSE FINANCED
OR TO BE FINANCED BY THE CITY OF BALTIMORE AIR-
PORT SERIAL LOANS IDENTIFIED AS AIRPORT SERIAL
LOANS SEVEN AND EIGHT. IT IS FURTHER UNDERSTOOD
THAT THE CITY OF BALTIMORE WILL NOT ISSUE THE
EIGHTH AIRPORT SERIAL LOAN IN THE AMOUNT OF FOUR
MILLION DOLLARS ($4,000,000). THE AUTHORITY SHALL
REIMBURSE THE CITY OF BALTIMORE FOR THE AFORE-
MENTIONED EXPENDITURES UNDER THIS SECTION, IN
AN AMOUNT NOT TO EXCEED A MAXIMUM OF FOUR MIL-
LION DOLLARS ($4,000,000.). IT IS THE INTENT OF THE
STATE TO MAKE THE CITY WHOLE FOR CAPITAL IM-
PROVEMENTS.

(4)  THE CURRENT OPERATING REVENUE OF FRIEND-
SHIP INTERNATIONAL AIRPORT FROM JULY 1, 1968, SHALL
REMAIN IN AN AIRPORT ACCOUNT, WHICH WILL BE DES-
IGNATED AS A SPECIAL AIRPORT FUND ACCOUNT, FROM
WHICH OPERATING EXPENSES WILL BE PAID AND THE
BALANCE TURNED OVER TO THE AUTHORITY UPON
TRANSFER OF THE AIRPORT BY THE CITY TO THE AU-
THORITY AS PROVIDED IN THIS SECTION.