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Session Laws, 1976
Volume 734, Page 1652   View pdf image
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1652

LAWS OF MARYLAND

Ch. 608

described in the trust agreement. The Commission is
hereby authorized to enter into a supplemental agreement
with the trustee, supplemental to the trust agreement,
and shall determine thereby for what period or periods of
time the said tolls and revenues from the new bridge
shall be paid over to the trustee as aforesaid, and when
such determination shall have been made by the Commission
and incorporated in such supplemental agreement such
determination shall not be changed by the Commission or
by the State of Maryland or any agency or instrumentality
thereof, but shall continue in accordance with the
provisions of such supplemental agreement. Such
supplemental agreement, if entered into, shall provide,
among other matters, (a) for the payment of the tolls and
revenues from the bridge to be constructed under the
provisions of this subheading to the trustee under the
trust agreement as hereinbefore provided, (b) for setting
forth the determination of the Commission as to the
period or periods during which such payment shall be
made, and (c) for directing the trustee in the
collection, holding and disbursements of the toll
revenues so to be paid over to it. And whenever it
shall happen that under the terms of such supplemental
agreement it is not necessary that the Commission pay
such tolls and revenues from the above-mentioned bridge
to the trustee as aforesaid, then such tolls and revenues
shall be paid into the revenue fund account of the said
Commission with reference to such new bridge and the
tolls shall remain in effect for such bridge and shall
continue to be collected by the Commission and disbursed
by it in accordance with the provisions of the resolution
or trust agreement authorized by [§ 148] §8 of this
subheading and as provided by law.

§2. [§ 142.] Credit of State not pledged.

Revenue bonds issued under the provisions of this
subheading shall not be deemed to constitute a debt of
the State or of any political subdivision thereof or a
pledge of the faith and credit of the State or of any
such political subdivision, but shall be payable solely
from the funds provided therefor from revenues. All
such revenue bonds shall contain on the face thereof a
statement to the effect that the State is not obligated
to pay the same or the interest thereon except from
revenues and that neither the faith and credit nor the
taxing power of the State or of any political subdivision
thereof is pledged to the payment of the principal of or
the interest on such bonds.

§3. [§ 143.] Definitions.

As used in this subheading, the following words and
terms shall have the following meanings, unless the
context shall indicate another or different meaning or
intent:

(a) [The word "Commission" shall mean the State
Roads Commission, or, if said Commission shall be

 

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Session Laws, 1976
Volume 734, Page 1652   View pdf image
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