|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 13
|
|
|
|
|
102
|
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
it is considered advisable to retain that section, in
basically unrevised, decodified form, until such time as
these bonds have been redeemed. The decodified section
now appears as Section 5 of Ch. ___, Acts of 1977. (The
provisions of Art. 89B, §211G-1, as in effect through
December 31, 1975, appear on page 172 of the 1975
Cumulative Supplement to Volume 8A of the 1957 Code;
these provisions relate to County Highway Construction
Bonds.)
Former Art. 94A, §3, effective July 1, 1970,
transferred the borrowing power previously granted to the
former Maryland Port Authority (now the Maryland Port
Administration), the former Metropolitan Transit
Authority (now the Mass Transit Administration), and the
State Roads Commission to the Department of
Transportation and, as to revenue bonds, to the Maryland
Transportation Authority. Since that transfer took place
on July 1, 1970, and since all references in this article
have been conformed as necessary to reflect the transfer,
the section need no longer be retained in the Code.
However, to avoid inconsistencies with or amendments to
references in numerous trust agreements and similar
instruments, it is considered prudent to retain statutory
evidence of this transfer. Therefore, that section has
been decodified and now appears as Section 1 of Ch. 608,
Acts of 1976.
|
|
|
|
|
|
|
|
|
|
The following related provisions also have been
decodified. Although no new obligations will be issued
under their respective provisions, there are obligations
issued under them that are still outstanding; therefore,
it is considered advisable to retain those provisions in
decodified form until such time as the outstanding
obligations have been redeemed:
(1) Former Art. 62B, §§ 8, 8A, 8B, and 18(a).
These sections authorized the "Maryland Port Authority
Loans" of 1958, 1961, and 1967. The power to issue any
more obligations under these sections terminated with the
first issue of Consolidated Transportation Bonds dated
July 15, 1973; in this regard, see former Art. 94A, §10,
now §3—214 of this title. Therefore, these sections of
Art. 62B have been decodified and now appear in Section 2
of Ch. 608, Acts of 1976.
(2) Former Art. 89B, §§ 120 through 140.
These sections authorized the State Roads Commission to
issue "Maryland Bridge, Tunnel, and Motorway Revenue
Bonds", which financed, inter alia, the Bay Bridges, the
Harbor Tunnel, and the Cuter Harbor Crossing. By former
Art. 94A, §3 - now Section 1 of Ch. 608, Acts of 1976 -
the authorization to issue those revenue obligations was
transferred to the Maryland Transportation Authority.
However, in light of the general authorization to issue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
