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Session Laws, 1976
Volume 734, Page 1651   View pdf image
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MARVIN MANDEL, Governor                             1651

from the Annotated Code of Maryland, to the Session Laws,
to read as follows:

JOHN F. KENNEDY MEMORIAL HIGHWAY REVENUE BONDS

§1. [§ 111.] John F. Kennedy Memorial Highway
authorized; to be financed by bond issue; disposition of
tolls and revenues from bridge across Susquehanna River.

The State Roads Commission is hereby authorized and
empowered to construct, maintain, repair and operate a
toll express highway, to be known as the "John F.
Kennedy Memorial Highway" (originally known as the
"Northeastern Expressway"), from a point at or within the
city limits of the City of Baltimore northeasterly
between [[U.S]] U.S. Routes No. 40 and 1 to a point at
or near the boundary line between this State and the
Commonwealth of Pennsylvania, including a connection to a
point at or near the boundary line between this State and
the State of Delaware, and to issue revenue bonds of the
State, payable solely from revenues, to pay the cost of
the John F. Kennedy Memorial Highway; and the John F.
Kennedy Memorial Highway may include as an integral part
thereof a new bridge across the Susquehanna River at a
location to be selected by the Commission after a study
of the most feasible and advantageous route to be
traversed or said Expressway may be construed so as to
utilize the presently existing Susquehanna toll bridge
and its approaches on the Pulaski highway until such time
as the traffic load justifies the construction of a new
bridge across the Susquehanna River. In the event the
Commission exercises the power herein granted to build a
new bridge across the Susquehanna River then said
Commission is authorized to issue additional bonds or
certificates of indebtedness secured by toll revenue from
the John F. Kennedy Memorial Highway and/or the new
Susquehanna River bridge. The Commission may and is
hereby expressly authorized to deposit all of the tolls
and revenues from such new bridge as may be constructed
across the Susquehanna River under the provisions of this
subheading with the Fidelity—Baltimore National Bank ft
Trust Company (hereinafter called the "trustee"), trustee
under the trust agreement (hereinafter called the "trust
agreement"), dated as of October 1, 1954, between the
Commission and the trustee, such tolls and revenues, when
so deposited, to be placed by the trustee in the revenue
fund created pursuant to the provisions of the trust
agreement, to be collected, held and disbursed by the
trustee in the same manner and in all respects as a part
of said revenue fund for the maintenance and operation of
the toll revenue projects described and referred to in
the trust agreement, for the creation of reserves and for
the payment of principal and interest and premium, if
any, on the State of Maryland bridge and tunnel revenue
bonds (hereinafter called the "bonds"), issued pursuant
to the trust agreement, in the manner as if said tolls
and revenues from such new bridge had been received as
tolls and revenues from one of the toll revenue projects

 

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Session Laws, 1976
Volume 734, Page 1651   View pdf image
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