MARVIN MANDEL,

Governor

1643

be made for the registration of any coupon bonds as to
principal alone and also as to both principal and
interest, and for the reconversion into coupon bonds of
any bonds registered as to both principal and interest.

The Authority may sell such bonds in such manner,
either at public or private sale, and for such price, as
it may determine to be for the best interests of the
State.

(b)   Use of bonds; additional bonds; surplus. —The
proceeds of the bonds of each issue shall be used solely
for the payment of the cost of the project or projects or
the improvements for or in connection with which such
bonds shall have been issued, and shall be disbursed in
such manner and under such restrictions, if any, as the
Commission may provide in the resolution authorizing the
issuance of such bonds or in the trust agreement
hereinafter mentioned securing the same. If the
proceeds of the bonds of any issue, by error of estimates
or otherwise, shall be less than such cost, additional
bonds may in like manner be issued to provide the amount
of such deficit, and, unless otherwise provided in the
resolution authorizing the issuance of such bonds or in
the trust agreement securing the same, shall be deemed to
be of the same issue and shall be entitled to payment
from the same fund without preference or priority of the
bonds first issued. If the proceeds of the bonds of any
issue shall exceed the cost of the project or projects
for which the same shall have been issued, the surplus
shall be deposited to the credit of the sinking fund for
such bonds.

(c)   Temporary bonds. —Prior to the preparation of
definitive bonds, the Commission may, under like
restrictions, issue interim receipts or temporary bonds,
with or without coupons, exchangeable for definitive
bonds when such bonds shall have been executed and are
available for delivery. The Commission may also provide
for the replacement of any bonds which shall become
mutilated or shall be destroyed or lost.

(d)   Issuance pursuant to subheading. —Bonds may
be issued under the provisions of this subheading without
obtaining the consent of any department, division,
commission, board, bureau or agency of the State, and
without any other proceedings or the happening of any
other conditions or things than those proceedings,
conditions or things which are specifically required by
this subheading. The provisions of ARTICLE 31, §§ 9 to
11, inclusive, of [Article 31] THE ANNOTATED CODE OF
MARYLAND (1957 EDITION, AS AMENDED) and any amendments
thereto, shall not apply to revenue bonds or to revenue
refunding bonds issued under the provisions of this
subheading.

§12. [§127.3 Chesapeake Bay crossing.

If the Commission shall determine to construct a
crossing from a point in Anne Arundel County at or near
Sandy Point to a point approximately opposite on Kent
Island and shall authorize and issue revenue bonds under