1458                               Laws of Maryland                        [Ch. 510

of said bonds, notes or other obligations, existing facilities to which
such new facilities and improvements are related, and from revenues
derived from designated facilities related in purpose or function to
the property being financed, and not by mortgage of the said prop-
erty, facilities, developments, improvements, existing facilities, new
facilities, or designated facilities. Any and all of such bonds, notes
or other obligations shall not be general obligations of the Mayor
and City Council of Baltimore and shall not be a pledge of or involve
the faith and credit or the taxing power of the Mayor and City
Council of Baltimore, and shall not constitute a debt of the Mayor and
City Council of Baltimore, all within the meaning of Section 7 of
Article XI of the Constitution of Maryland or within the 'meaning of
any other constitutional, statutory or charter provision limiting or re-
stricting the sale or issuance of bonds, notes or other obligations of
the Mayor and City Council of Baltimore. THE DEBT AUTHOR-
IZED BY THE PROVISIONS OF THIS ACT, AND THE
BONDS ISSUED AND SOLD PURSUANT THERETO AND
THEIR TRANSFER, AND THE PRINCIPAL AND INTEREST
PAYABLE THEREON (INCLUDING ANY PROFIT MADE IN
THE SALE THEREOF) SHALL BE AND REMAIN EXEMPT
FROM ANY AND ALL STATE, COUNTY AND MUNICIPAL
TAXATION IN THE STATE OF MARYLAND. Any and all such
bonds, notes or other obligations shall be issued by the Mayor and City
Council of Baltimore pursuant to an ordinance of said municipality
without the necessity of submitting the question of such issuance to
the legal voters of Baltimore City for approval or disapproval. Any
such ordinance may prescribe, among other things but not limited to,
the form, terms, provisions, manner or method of issuing and selling
(including negotiated as well as competitive bid sale), and the time
or times of issuance, and any and all other details of any such bonds,
notes or other obligations and the issuance and sale thereof, and may
authorize and empower the Commissioners of Finance by resolution
to determine and set forth any and all of the things hereinabove
mentioned and to do any and all things necessary, proper or expedient
in connection with the issuance and sale of such notes, bonds or
other obligations authorized to be issued under the provisions of this
paragraph. ANY MONEYS FROM THE BONDS, NOTES OR
OTHER OBLIGATIONS AUTHORIZED UNDER THIS PARA-
GRAPH SHALL NOT BE EXPENDED FOR PROJECTS WITHIN
THE LIMITS OF BALTIMORE COUNTY WITHOUT THE EX-
PRESS CONSENT OF THE COUNTY EXECUTIVE AND
COUNTY COUNCIL OF BALTIMORE COUNTY.

SEC. 2. And be it further enacted, That this Act shall take effect
July 1, 1972.

Approved May 26, 1972.

CHAPTER 510
(House Bill 442)

AN ACT to repeal and re-enact, with amendments, Section 9(57) of
Article 81 of the Annotated Code of Maryland (1969 Replacement
Volume), title "Revenue and Taxes," subtitle "What Shall Be