BLAIR LEE III, Acting Governor

595

proceedings, conditions or things which are specifically
required by the provisions of §§ 12A—12J, inclusive, of this
subtitle. The provisions of §§ 9—11, inclusive, of Article
31 of the Annotated Code of Maryland (1967 Replacement
Volume), and any amendments thereto, shall not apply to
revenue bonds issued under the provisions of §§ 12A—12J,
inclusive, of this subtitle.

(e)   Not to constitute obligation of State; payment of
principal and interest. —-Any bonds issued under the
authority of §§ 12A—12J, inclusive, of this subtitle 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 any such political subdivision, but
such bonds shall be payable only from the fees, rents,
charges and revenues of auxiliary facilities to the extent
provided in this subtitle. All such bonds shall contain on
the face thereof a statement to the effect that neither the
State nor any political subdivision thereof shall be
obligated to pay the same or the interest thereon except
from fees, rents, charges and revenues of auxiliary
facilities to the extent provided in this subtitle and a
statement to the effect that neither the faith and credit
nor the taxing power of the State or any political
subdivision thereof is pledged to the payment of the
interest on or principal of such bonds. Only fees, rents,
charges and revenues received from the use of, or imposed
and collected in connection with, any auxiliary facility
shall be used or appropriated for the payment of the
interest on or the principal of such bonds; provided,
however, that all or any part of such fees, rents, charges
and revenues may at the option of said board of trustees be
excluded from such use and appropriation; and provided,
further, that prior to and during construction and for one
year after completion of construction of an auxiliary
facility or auxiliary facilities for which bonds have been
issued, the interest on such bonds may be paid out of the
proceeds of such bonds and/or out of such other moneys as
may be allocated for such purpose.

(f)    Additional security for bonds. —-Said board of
trustees is also authorized and empowered to provide, by
resolution, from time to time, for the issuance and sale of
its bond anticipation notes, the principal of and interest
on said notes to be made payable to the bearer or registered
holder thereof out of the first proceeds of sale of any
series of bonds issued under the provisions of §§ 12A—12J,
inclusive, of this subtitle. Said resolution may provide
for the issuance of said bond anticipation notes in series
as funds are required and may also provide for the renewal
of said notes at maturity with or without resale. All such
notes shall be sold and executed in the same manner as
provided for bonds issued pursuant to this subtitle.
Except where the provisions of this subtitle would be
inapplicable to bond anticipation notes, the term "bonds"
used in this subtitle shall include bond anticipation notes,
including (without in any way limiting the foregoing) the
provisions of § 12C pertaining to the exemption from