Marvin Mandel, Governor                         953

receive and accept loans or grants, and to mortgage or otherwise
encumber any project authorized by the Authority; and to provide
for the Authority to make loans to participating institutions; to
grant to the Authority the power to do all things necessary or
convenient to carry out the powers granted under the Act; to
grant to the Authority the power to acquire by purchase, gift
or devise land, structures, property, rights-of-way, and to take
title to said property in the name of the Authority or the name of a
participating institution of higher education or participating hos-
pital; to grant to the Authority the power to issue its negotiable
notes and its negotiable bonds; and to provide that the Authority
be authorized in connection with the issuance of its bonds to
pledge the full faith and credit of the Authority as well as the full
faith and credit of a participating institution of higher education
or participating hospital, and to provide for receipt of funds by
the Authority from rentals, fees and other charges; to provide
that bonds issued by the Authority shall not be deemed to con-
stitute a debt or liability of the State of Maryland or any political
subdivision thereof; to provide that the Authority be authorized
to fix and collect rents, fees and charges from projects authorized
by the Authority; to provide that the Authority and its agents
and lessees be exempt from payment of any taxes or assessments
in respect to any project or any property acquired or used by the
Authority, its agents or lessees, and to provide that any bonds
issued under the provisions of this Act shall be free from taxation
of every kind by the State of Maryland, its municipalities, and all
other political subdivisions thereof; and to provide for the Au-
thority to issue refunding bonds; to provide that the Authority
make an annual report to the Governor, and relating generally to
the creation, powers, and duties of the Maryland Health and
Higher Educational Facilities Authority.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Article 43 C be and it is hereby added to the Annotated
Code of Maryland (1965 Replacement Volume 1969 SUPPLEMENT),
to follow immediately after Article 43B thereof and to be under the
new title "Maryland Health and Higher Educational Facilities Au-
thority" and to read follows:

43C.

1.  Title.

This Act shall be known as the "Maryland Health and Higher
Educational Facilities Authority Act."

2.  Declaration of Policy.

It is hereby declared that for the benefit of the people of the State
of Maryland, the increase of their commerce, welfare and prosperity
and the improvement of their health and living conditions, it is
essential that this and future generations of youth be given the
fullest opportunity to learn and to develop their intellectual and
mental capacities; that it is essential that institutions for higher
education within the state be provided with appropriate additional
means to assist such youths in achieving the required levels of learn-
ing and development of their intellectual and mental capacities;
that it is essential that hospitals within the state be provided with