Ch. 311                                    LAWS OF MARYLAND

may or may not be a member of the Authority. Seven members of the
Authority constitute a quorum. Action shall be by majority vote,
each member, including ex officio members, being entitled to one
vote. No vacancy in the Authority impairs the right of a quorum
to exercise all of the rights and perform all of the duties of
the Authority. The members of the Authority shall be reimbursed
for expenses incurred in the performance of their duties in
accordance with the Standard Travel Regulations. Members other
than ex officio may be paid such per diem compensation for their
services, not exceeding $1,000 each year, as the Authority may
establish. However, the reimbursement shall be made and the
compensation shall be paid solely from funds provided under the
authority of this subtitle.

(d)  Meetings of the Authority shall be held at least
quarterly and shall be called by written notice to each member at
least ten days in advance of the meeting. The Authority shall
make necessary rules and regulations for its own government. The
Authority may delegate to one or more of its members, or to its
officers, agents, and employees, whatever powers and duties as it
deems proper, but no contract is binding on the Authority unless
approved or authorized by a resolution of the Authority passed at
a regular or special meeting of the Authority.

(e)  When all of the bonds of the Authority are paid and
retired, and when all of the interest on and principal of all
bonds issued by the Authority has been paid or provision for the
payment has been made, in the event that the State shall have
levied and collected any State tax for the payment of interest on
and principal of the bonds pursuant to the provisions of §
[13-110] 6-110, the Authority shall pay over to the Comptroller
of the State out of market and park revenues, after deduction for
the cost of maintaining, repairing and operating the market and
the park, including reserves for such purposes and for
replacements, depreciation, and necessary extensions, the amount
of any taxes levied and collected by the State for the payment of
interest on and principal of the bonds. In the event the
Authority acquires the property of the New Marsh Wholesale
Produce Market Authority and assumes all the duties, obligations
and liabilities thereof as provided in § 13-106 of this subtitle,
the Authority shall pay over to the Comptroller of the State of
Maryland out of market and park revenues the amount of any taxes
levied and collected by the State under Chapter 845 of the Laws
of Maryland of 1957 for the payment of interest on and the
principal of. the bonds issued by the New Marsh Wholesale Produce
Market Authority. The payments to the State shall be without
interest and shall be made within 60 days after the end of each
fiscal year of the Authority which begins after the year in which
all of the bonds have been paid and retired, or in which
provision for such payment has been made, until all of the State
tax has been repaid to the State.

[13-104.] 6-104.

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