HARRY HUGHES, Governor

2135

THE ESTABLISHMENT OF THE COMMISSION UNDER THE
PROVISIONS OF THIS SUBTITLE IS IN ALL RESPECTS FOR THE
BENEFIT OF THE INHABITANTS OF THE STATE OF MARYLAND OR ITS
POLITICAL SUBDIVISIONS AND IS A PUBLIC PURPOSE, AND THE
STATE OF MARYLAND AND ITS POLITICAL SUBDIVISIONS AND THE
COMMISSION WILL BE PERFORMING AN ESSENTIAL GOVERNMENTAL
FUNCTION IN THE EXERCISE OF THE POWERS CONFERRED BY THIS
SUBTITLE, AND WITH THE EXCEPTION OF STATE AND LOCAL REAL
ESTATE TAXES AS REQUIRED BELOW THE COMMISSION SHALL NOT BE
REQUIRED TO PAY ANY TAXES OR ASSESSMENTS UPON THE MARKET ITS
FACILITIES OR ANY PART THEREOF OR UPON ITS ACTIVITIES IN
THE OPERATION AND MAINTENANCE OF THE MARKET ITS FACILITIES
OR UPON ANY REVENUES THEREFROM, AND THE BONDS OF THE
COMMISSION ISSUED UNDER THIS SUBTITLE, AND THE INTEREST
THEREON ARE FOREVER EXEMPT FROM ALL STATE, MUNICIPAL, AND
LOCAL TAXATION; PROVIDED HOWEVER, THAT WHEREVER THE
COMMISSION SELLS OR LEASES LAND OR FACILITIES TO ANY PRIVATE
ENTITY OR ENTITIES SUCH LAND OR FACILITIES SHALL BE SUBJECT
TO STATE AND LOCAL PROPERTY TAXES FROM THE TIME OF SUCH
SALE.

500.

THE POLITICAL SUBDIVISIONS SHALL CONTRIBUTE THE MONEY
TO BE USED BY THE COMMISSION FOR THE PURPOSE OF ORGANIZING
THE COMMISSION AND PAYING ANY AND ALL COSTS AND EXPENSES
INCURRED BY THE COMMISSION IN CARRYING OUT ITS CORPORATE
PURPOSES, PRIOR TO THE SALE OF THE FIRST ISSUE OF BONDS
AUTHORIZED BY THIS SUBTITLE; THIS SUM OF MONEY HEREBY
ADVANCED SHALL BE REPAID TO THE STATE OF MARYLAND FROM FUNDS
OBTAINED FROM THE SALE OF THE FIRST ISSUE OF BONDS PRIOR TO
ANY OTHER PAYMENTS FROM SAID FUNDS. ANY STAFF REQUIRED BY
THE COMMISSION FROM TIME TO TIME SHALL BE PROVIDED BY THE
POLITICAL SUBDIVISIONS OR BY THE REGIONAL PLANNING COUNCIL
AS DETERMINED BY THE BOARD.

501.

AT THE ANNUAL MEETING OF THE BOARD, THE BOARD SHALL
MAKE PUBLIC ITS ANNUAL REPORT WHICH SHALL INCLUDE A
FINANCIAL STATEMENT. THIS REPORT SHALL BE SUBMITTED TO THE
GOVERNOR; THE MARYLAND GENERAL ASSEMBLY; THE CITY OR COUNTY
COUNCIL AND THE BOARD OF COUNTY COMMISSIONERS OF THE
POLITICAL SUBDIVISIONS OF THE REGION; THE STATE BOARD OF
PUBLIC WORKS; THE MARYLAND ARTS COUNCIL; AND THE REGIONAL
PLANNING COUNCIL.

502.

NO POWER OR AUTHORITY CONFERRED BY THIS    SUBTITLE MAY BE

EXERCISED INCLUDING THOSE WITH RESPECT TO      THE LOCATION,

FINANCING, or USER CHARGES, OR FEES WITHOUT    THE CONCURRENCE

OF EACH PUBLIC SECTOR REPRESENTATIVE OF      THE POLITICAL
SUBDIVISIONS REPRESENTED ON THE BOARD.

503.