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1397
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HARRY HUGHES, Governor
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(10) The principal of and interest on any revenue
bonds issued under this subsection shall be exempt from taxation
in the State of Maryland as provided in § [6-104] 6-103 of this
article.
(11) These provisions may not be construed to prevent
the Commission from voluntarily applying to the payment of the
principal of and interest on any revenue bonds issued under this
subsection, either upon maturity or redemption, its general funds
not otherwise committed. This authority shall be deemed to
include the power to retire an entire issue of revenue bonds from
the proceeds of general obligation refunding bonds issued by the
Commission pursuant to the authority of § [6-105] 6-104 of this
article. Upon the retirement of an issue of revenue bonds from
the revenues of the facility financed thereby from other funds of
the Commission, or by refunding as herein authorized, the
Commission may elect to continue to charge for the use or
enjoyment of any such facility, and may apply the revenues so
derived to any other function, purpose or objective of the
Commission.
(12) The Commission may adopt and, from time to time,
amend, reasonable rules and regulations for the use and enjoyment
by the general public of any facility financed under this
subsection. These rules and regulations may not be so drawn as
to exclude any person tendering the required fee or charge for
such use and enjoyment because of race, creed or color of such
person. Any lease of any such facility by the Commission shall
contain appropriate and enforceable covenants by the lessee to
comply with this limitation.
(G) NONE OF THE PROVISIONS OF ARTICLE 31, §§ 10 AND 11 OF
THE CODE ARE APPLICABLE TO OR HAVE ANY BEARING UPON THE MANNER
AND METHOD OF SALE OF BONDS AUTHORIZED BY THIS TITLE.
[6-103.] 6-102.
[All of the bonds and notes shall be issued on the full
faith and credit of the Commission and upon the full faith and
credit of the county guaranteeing them.] The principal OF and
interest [maturing thereon] ON BONDS ISSUED UNDER THIS TITLE
shall be payable from the proceeds of the collection of the taxes
authorized in this title. In the event of the inadequacy of the
taxes for this purpose, there shall be levied by the county
guaranteeing the bonds, in each year that an inadequacy exists,
an additional tax upon all assessable property within the portion
of the district in that county sufficient to make up the
inadequacy. If the proceeds of the additional, tax shall likewise
be inadequate, then the county shall levy a tax upon all the
assessable property within the corporate limits of the county
sufficient to make up the inadequacy or deficiency in the
revenues available for principal and interest maturities on the
bonds [or notes]. Nothing contained in this section or elsewhere
in this article may be deemed or construed as increasing or
decreasing or otherwise modifying the limitations on the powers
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