PARRIS N. GLENDENING, Governor                             Ch. 494

THERETO, AND THE TRUSTEE UNDER ANY TRUST INDENTURE, EXCEPT TO THE
EXTENT THE RIGHTS HEREIN GIVEN MAY BE RESTRICTED BY SUCH TRUST
INDENTURE OR THE RESOLUTION AUTHORIZING THE ISSUANCE OF SUCH BONDS,
NOTES, OR OTHER EVIDENCE OF OBLIGATION. MAY, EITHER AT LAW OR IN EQUITY,
BY SUIT, ACTION, MANDAMUS OR OTHER PROCEEDING, PROTECT AND ENFORCE
ANY AND ALL RIGHTS UNDER THE LAWS OF THE STATE OF MARYLAND OR
GRANTED HEREUNDER OR UNDER SUCH TRUST INDENTURE OR THE RESOLUTION
AUTHORIZING THE ISSUANCE OF SUCH BONDS, NOTES. OR OTHER EVIDENCE OF
OBLIGATION. AND MAY ENFORCE AND COMPEL THE PERFORMANCE OF ALL DUTIES
REQUIRED BY THIS ACT OR BY SUCH TRUST INDENTURE OR RESOLUTION TO BE
PERFORMED BY THE AUTHORITY OR BY ANY OFFICER THEREOF, INCLUDING THE
FIXING, CHARGING, AND COLLECTING OF TOLLS.

ARTICLE XI

TAX EXEMPTION

THE EXERCISE OF THE POWERS GRANTED BY THIS ACT WILL BE IN ALL
RESPECTS FOR THE BENEFIT OF THE PEOPLE OF THE STATE OF MARYLAND AND
FOR THE INCREASE OF THEIR COMMERCE AND PROSPERITY, AND AS THE
OPERATION AND MAINTENANCE OF THE PROJECT WILL CONSTITUTE THE
PERFORMANCE OF ESSENTIAL GOVERNMENTAL FUNCTIONS, THE AUTHORITY
SHALL NOT BE REQUIRED TO PAY ANY TAXES OR ASSESSMENTS UPON THE PROJECT
OR ANY PROPERTY ACQUIRED OR USED BY THE AUTHORITY UNDER THE
PROVISIONS OF THIS ACT OR UPON THE INCOME THEREFROM, AND THE BONDS,
NOTES. OR OTHER EVIDENCE OF OBLIGATION ISSUED UNDER THE PROVISIONS OF
THIS ACT, THEIR TRANSFER AND THE INCOME THEREFROM (INCLUDING ANY
PROFIT MADE ON THE SALE THEREOF) SHALL AT ALL TIMES BE FREE FROM
TAXATION WITHIN THE STATE OF MARYLAND.

ARTICLE XII

BONDS, NOTES, OR OTHER EVIDENCE OF OBLIGATION ELIGIBLE FOR INVESTMENT

BONDS, NOTES, OR OTHER EVIDENCE OF OBLIGATION ISSUED BY THE
AUTHORITY UNDER THE PROVISIONS OF THIS ACT ARE HEREBY MADE SECURITIES
IN WHICH ALL PUBLIC OFFICERS AND PUBLIC BODIES OF THE STATE OF MARYLAND
AND ITS POLITICAL SUBDIVISIONS, ALL INSURANCE COMPANIES, TRUST COMPANIES,
BANKING ASSOCIATIONS, INVESTMENT COMPANIES, EXECUTORS, ADMINISTRATORS,
TRUSTEES, AND OTHER FIDUCIARIES MAY PROPERLY AND LEGALLY INVEST FUNDS,
INCLUDING CAPITAL IN THEIR CONTROL OR BELONGING TO THEM. SUCH BONDS,
NOTES, OR OTHER EVIDENCE OF OBLIGATION ARE HEREBY MADE SECURITIES
WHICH MAY PROPERLY AND LEGALLY BE DEPOSITED WITH AND RECEIVED BY ANY
STATE OF MARYLAND OR MUNICIPAL OFFICER OR ANY AGENCY OR POLITICAL
SUBDIVISION OF THE STATE OF MARYLAND FOR ANY PURPOSE FOR WHICH THE
DEPOSIT OF BONDS, NOTES. OR OBLIGATIONS OTHER EVIDENCE OF OBLIGATION IS
NOW OR MAY HEREAFTER BE AUTHORIZED BY LAW.

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