Ch. 219

LAWS OF MARYLAND

deemed proper that the development of the market [and], THE park,
AND OTHER PROJECTS be defrayed insofar as practicable by the
issuance of bonds payable solely from the revenue derived from
[market and park] PROJECT operations; but it may be necessary
that a part of said bonds bear the full faith and credit of the
State of Maryland.

13-103.

(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] MAJORITY OF THE MEMBERS
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, the Authority shall pay over to the Comptroller of the
State out of [market and park] PROJECT revenues, after deduction
for the cost of maintaining, repairing and operating the [market
and the park] PROJECT, 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] PROJECT 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.

As used in this subtitle the words and terms listed in this
section and used in their place have the meaning indicated unless

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