HARRY HUGHES, Governor                                     3305

(c) All other matters with respect to the authorization,
issuance, sale, delivery, and payment of the bonds, including,
without limitation, the issue date or dates, maturity or
maturities, interest rate or rates, terms, form or forms,
denomination or denominations, manner [or] OF execution, place or
places of payment, redemption, refunding, sale price, manner of
sale, and security of bonds shall be as determined by local law
consistent with the provisions of this subtitle.

(f)  The bonds may be guaranteed as to payment of principal
[and interest], INTEREST AND ANY REDEMPTION PREMIUM by AND UPON
THE FULL FAITH AND CREDIT OF the county in which the authority is
located as provided by local law.

(g)  The bonds, the borrowing which they represent, THE
PROJECT BEING FINANCED, or the guarantee of the county with
respect to payment of the principal [and interest], INTEREST AND
REDEMPTION PREMIUM thereon [is] ARE not subject to any referendum
requirements of the CHARTER OR OTHER LOCAL LAW OF THE county in
which the authority is located.

278.

THE NET EARNINGS OF AN AUTHORITY, ASIDE FROM THOSE NECESSARY
TO PAY DEBT SERVICE OR TO IMPLEMENT THE PUBLIC PURPOSES OF THIS
SUBTITLE, MAY NOT INURE TO THE BENEFIT OF ANY PERSON OTHER THAN
THE COUNTY IN WHICH THE AUTHORITY IS LOCATED. UPON TERMINATION
OF AN AUTHORITY, TITLE TO ALL ITS PROPERTY SHALL VEST IN, AND ALL
OBLIGATIONS AND ASSETS OF THE AUTHORITY SHALL BE TRANSFERRED TO
AND ASSUMED BY, THE COUNTY IN WHICH THE AUTHORITY IS LOCATED.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 698

(House Bill 1439)

AN ACT concerning

Motor Vehicles - Scrap Processor Bounty - Titling Fees

FOR the purpose of repealing by a certain date certain provisions
of the Maryland Vehicle Law authorizing the Motor Vehicle
Administration to make certain payments to certain scrap
processors for the destruction of certain automobiles
formerly titled in this State; altering the fees for
certificates of title for certain vehicles; and generally
relating to the repeal of provisions of the Maryland Vehicle