1664

LAWS OF MARYLAND

Ch. 608

The exercise of the powers granted by this
subheading will be in all respects for the benefit of the
people of the State, for the increase of their commerce
and prosperity, and for the improvement of their health,
living conditions and general welfare, and as the
operation and maintenance of the Expressway by the
Commission will constitute the performance of essential
governmental functions, the Commission shall not be
required to pay any taxes or assessments upon the
Expressway or any property acquired or used by the
Commission under the provisions of this subheading or
upon the income therefrom, and the bonds issued under the
provisions of this subheading, their transfer and the
income therefrom (including any profit made on the sale
thereof) shall at all times be free from taxation by the
State of Maryland or by any of its political
subdivisions, or by any town or incorporated municipality
or any other public agency within the State.

§14. [§ 154.] Bonds eligible for investment; deposit
with State officer, etc.

Bonds issued under the provisions of this subheading
are hereby made securities in which all public officers
and public agencies of the State and its political
subdivisions, and all banks, trust companies, savings and
loan associations, investment companies and others
carrying on a banking business, all insurance companies
and insurance associations and others carrying on an
insurance business, all administrators, executors,
guardians, trustees and other fiduciaries, and all other
persons may legally and properly invest funds, including
capital in their control or belonging to them. Such
bonds are hereby made securities which may properly and
legally be deposited with and received by any State or
municipal officer or any agency or political subdivision
of the State for any purpose for which the deposit of
bonds or other obligations of the State is now or may
hereafter be authorized by law.

§15. [§ 155.3 Maintenance and policing of Expressway;
restoration of or compensation for private property;
authority of political subdivisions and public agencies.

The Expressway when constructed and opened to
traffic shall be maintained and kept in good condition
and repair by the Commission. The Expressway shall also
be policed and operated by such force of police,
watchmen, tolltakers and other operating employees as the
Commission may in its discretion employ.

All private property damaged or destroyed in
carrying out the powers granted by this subheading shall
be restored or repaired and placed in its original
condition as nearly as practicable or adequate
compensation made therefor out of funds provided under
the authority of this subheading.

All counties, cities, villages, townships and other
political subdivisions and all public agencies and