1174

LAWS OF MARYLAND

Ch. 283

ANY FINANCIAL INSTITUTION, INVESTMENT COMPANY, INSURANCE
COMPANY OR ASSOCIATION, AND ANY PERSONAL REPRESENTATIVE,
GUARDIAN, TRUSTEE OR OTHER FIDUCIARY, MAY LEGALLY INVEST ANY
MONEYS BELONGING TO THEM OR WITHIN THEIR CONTROL IN ANY BONDS
ISSUED BY THE AUTHORITY.

9-1214. 13-714.

THE AUTHORITY SHALL NOT BE REQUIRED TO PAY ANY TAXES OR
ASSESSMENTS OF ANY KIND WHATSOEVER AND ITS BONDS, THEIR TRANSFER,
THE INTEREST PAYABLE ON THEM, AND ANY INCOME DERIVED FROM THEM,
INCLUDING ANY PROFIT REALIZED IN THEIR SALE OR EXCHANGE, SHALL BE
EXEMPT AT ALL TIMES FROM EVERY KIND AND NATURE OF TAXATION BY
THIS STATE OR BY ANY OF ITS POLITICAL SUBDIVISIONS, MUNICIPAL
CORPORATIONS, OR PUBLIC AGENCIES OF ANY KIND.

9-1215. 13-715.

(A)  THERE IS A MARYLAND SPORTS STADIUM AUTHORITY FINANCING
FUND.

(B)  THE AUTHORITY SHALL USE THE MARYLAND SPORTS STADIUM
AUTHORITY FINANCING FUND AS A NONLAPSING REVOLVING FUND FOR
CARRYING OUT THE PROVISIONS OF THIS SUBTITLE.

(C)  ALL OF THE FOLLOWING RECEIPTS OF THE AUTHORITY SHALL BE
PLACED IN THE MARYLAND SPORTS STADIUM AUTHORITY FINANCING FUND:

(1)  PROCEEDS FROM THE SALE OF BONDS;

(2)  REVENUES COLLECTED OR RECEIVED FROM ANY SOURCE
UNDER THE PROVISIONS OF THIS SUBTITLE;

(3) REVENUES COLLECTED UNDER § 9-120.1 OF THE STATE
GOVERNMENT ARTICLE;

(4) (3) REVENUES COLLECTED UNDER THE PROVISIONS OF
ARTICLE 81, § 402(E) AND (F) OF THE CODE; AND

(5) (4) ANY OTHER REVENUES UNDER THE JURISDICTION OF
THE AUTHORITY.

(D)  THE AUTHORITY SHALL PAY ALL EXPENSES AND MAKE ALL
EXPENDITURES FROM THE MARYLAND SPORTS STADIUM AUTHORITY FINANCING
FUND.

(E)  TO THE EXTENT DEEMED APPROPRIATE BY THE AUTHORITY, THE
RECEIPTS OF THE FUND SHALL BE PLEDGED TO AND CHARGED WITH THE
PAYMENT OF DEBT SERVICE ON AUTHORITY BONDS AND ALL REASONABLE
CHARGES AND EXPENSES RELATED TO AUTHORITY BORROWING AND THE
MANAGEMENT OF AUTHORITY OBLIGATIONS. THE PLEDGE SHALL BE
EFFECTIVE AS PROVIDED IN § 9-1212(F) § 13-712(F) AND ANY
APPLICABLE AUTHORITY RESOLUTION.

9-1216. 13-716. RESERVED