[HISTORY: Adopted and amended as indicated in text.]
Wastewater treatment — See Ch. 535.
[Adopted as Ch. 76, Art. I, of the 1984 Code]
[1955 Code, sec. 558; 1935, ch. 409, sec. 1; 1941, ch. 342, sec. 1]
Boundaries. The territory included within Allegany County and Election District No. 4 of Garrett County and the territory in Election District No. 1 of Garrett County owned by the Upper Potomac River Commission on January 1, 1941, all in the State of Maryland, are hereby made and constituted the Upper Potomac River District for the purposes hereinafter set forth and shall be known and cited as the "Upper Potomac River District." The word "District" as hereinafter used is defined to mean the Upper Potomac River District.
[1955 Code, sec. 559; 1935, ch. 409, sec. 2; 1947, ch. 165; 1969, ch. 119, sec. 607(b)]
Creation. The Upper Potomac River Commission is hereby created and authorized to exercise, for the purposes herein set forth, all powers herein delegated to it. The word "Commission" as used herein is defined to mean the Upper Potomac River Commission. The district, for the purposes herein set forth, and for no other purposes, shall be under the jurisdiction of the Commission.
Membership; terms; vacancy; employment of personnel; financial statement. The Commission shall be composed of three members. One member shall be appointed by the County Commissioners of Garrett County and one by the County Commissioners of Allegany County, and the third shall be named by the Governor of Maryland, the first appointments hereunder to be made on or before May 1, 1935, upon which date the terms of office shall begin. All appointees shall be residents and taxpayers of Allegany and Garrett Counties and shall serve for six years or until their successors are appointed and have qualified, except that the first members appointed by the County Commissioners of Garrett County and Allegany County shall serve for terms of two and four years, respectively, and their successors for six years, so that the terms of one member of the Commission shall expire biennially. Upon the expiration of the terms of the members of said Commission, their successors shall be named in the same manner as the original appointments were made, except that each appointment shall be for a term of six years. Any vacancy occurring at any time in the personnel of the Commission shall be filled for the unexpired term by the agency making the original appointment. All members shall serve without compensation, but they shall be allowed any reasonable expenses incurred in the performance of their duties under this chapter. The Governor shall designate the Chairman of the Commission. In the event that either or both Boards of County Commissioners shall fail to neglect to appoint a member of the Upper Potomac River Commission as hereinbefore provided, then the Governor shall make such appointment or appointments for the full term or terms of such member or members. The Commission shall appoint, discharge at pleasure and fix the compensation of such engineering, legal, clerical and other force and help as from time to time, in its judgment, may be deemed necessary to carry out the provisions of this chapter. The Commission, for the convenience of the citizens of said district, may establish an office at a convenient place in the district. The Commission shall annually publish in at least one newspaper in Allegany County a full and true account of its receipts, expenses and expenditures. Prior to publication, the books and accounts of the Commission shall be audited by a certified public accountant, and the Commission may contract with a certified public accountant for that purpose. The Commission shall always keep available and open to public inspection during business hours at its principal office a detailed audit and financial statement of its accounts and shall furnish, upon request, copies of its actual statement of receipts, expenses and expenditures at a nominal charge to cover the actual cost of preparing such a statement.
Removal. Any member of the Commission appointed by the respective County Commissioners may be removed from office for misfeasance or nonfeasance by vote of the County Commissioners of either County concurred in and approved by the Commissioners of the other County, and any member appointed by the Governor may be removed by the Governor for like cause; provided, however, that reasonable notice of charges and opportunity for hearing shall first be given any member of the Commission sought to be removed.
[1955 Code, sec. 560; 1935, ch. 409, sec. 3]
The members of said Commission shall be a body corporate by the name of the "Upper Potomac River Commission," with the right to use a common seal, to sue and be sued and to do any and all other corporate acts for the purpose of carrying out the provisions of this chapter. Said Commission shall have the power and authority to regulate the flow of water in the Upper Potomac River and its tributary rivers and streams within said district and, in pursuance of such power, may erect, build, install and maintain dams, reservoirs and such other structures, with appurtenances and machinery, deemed necessary for regulating the flow of water of said rivers or streams within said district for the purpose of carrying out the provisions or intentions of this chapter and may enter into contracts and agreements with any federal agency or state or County for the better control of such flow of water. Said Commission shall have full power to take, acquire and hold any land, structures or buildings or any streambed, waterway, roadway, right-of-way, water rights or watershed, either in fee or as an easement, within said district deemed necessary to carry out the provisions or intentions of this chapter for the construction, extension or maintenance of any dam, reservoir or appurtenances thereto and may purchase the same from the owners thereof or, failing to agree with said owner or owners, may condemn the same by proceedings in the Circuit Court for the County in which said land, structures or buildings, streambeds, waterways, roadways, rights-of-way, water rights or watersheds are located as provided for condemnation of land by public service corporations under the Public General Laws of Maryland, and the Commission may likewise purchase or condemn the interest of any tenant, lessee or other persons having an interest in said land, structures or buildings, streambeds, waterways, roadways, rights-of-way, water rights or watershed. At any time after 10 days after the return or recording of the verdict of award in any such condemnation proceedings, the Commission may enter and take possession of the property so condemned upon first paying to the Clerk of the court in which said proceeding may be pending the full amount of said award and all costs taxed to date, notwithstanding any appeal or further proceeding upon the part of the defendant or defendants. At the time of said payment, however, it shall give its corporate undertaking to abide by and fulfill any judgment on such appeal or further proceeding. Said Commission shall have such power of condemnation over such land, structure and other property as above set forth for the purpose of this chapter, whether the same shall be taken in its name or in the name of the state or federal agency providing the money under the contracts and agreements hereinafter referred to, but if the Commission, in the exercise of its powers as aforesaid, permanently interferes with the use of any public road or roads and bridges as the same are now located, it will, in that event, at its own expense, provide such new road or roads and bridges as may be necessary at new locations to take the place of any of those whose use is permanently interfered with.
[1955 Code, sec. 561; 1935, ch. 409, sec. 4]
Said Commission is hereby authorized to accept from any state or any state or federal agency or from any political subdivision of any state or from any persons or corporations free grants of money or anything else for and/or in aid of the acquisition and/or construction and/or maintenance of any lands, structures, buildings, dams, impounding reservoirs, streambeds, waterways, roadways, rights-of-way, water rights or watersheds and appurtenances within the district and to enter into contracts for the free grant of money or anything else in aid of such purposes and powers with any state or federal agency. The term "federal agency" shall mean the United States of America, the President of the United States, the Federal Emergency Administration of Public Works or other such agencies as may be designated or created to make grants or loans pursuant to the National Industrial Recovery Act of Congress of the United States of America, approved June 16, 1933, or any Acts amendatory thereof or any Acts supplemental thereto or revisions thereof or any further Acts of the Congress of the United States of America to encourage public works, to reduce unemployment and thereby to assist in national recovery and to promote the public welfare or to regulate the flow of navigable or other streams or to conserve water resources. The term "state" as used herein shall mean any state of the United States and shall include any board, commission or other agency or subdivision of such state and shall mean and include two or more states or agencies thereof acting jointly.
[1955 Code, sec. 562; 1935, ch. 409, sec. 5]
Immediately after April 29, 1935, and the organization of the Commission, it shall enter into such negotiations with such state or federal agencies as may be empowered to grant and/or furnish free funds to said Commission to carry out the purposes of this chapter, and it is empowered to make any and all contracts and agreements requisite for the purpose of obtaining, by free grant or gift, all or any part of the amount of money necessary to purchase the land, structures or buildings or streambeds, waterways, roadways, rights-of-way, water rights or watersheds necessary to carry out the purposes of this chapter and for the construction of all dams, reservoirs, structures, appurtenances and machinery necessary for the control of the flow of water as aforesaid and for surveys and preliminary operations incidental to the construction of dams, reservoirs, etc., contemplated hereunder and also to accept the same outright in the form of a free grant or gift. In the event that said Commission shall be successful in such negotiations and shall make contracts or agreements for the obtaining of such free aid, then and in that event it shall begin the operations required under such contracts or agreements and in the manner set forth in said contracts or agreements, it being the intention of this chapter that said Commission shall not bind itself nor the County Commissioners for Allegany or Garrett Counties to the expenditures of any moneys for the capital outlay necessary for the land, structures, dams, reservoirs, etc., or the preliminaries necessary for the acquisition or construction, except as is hereinafter provided for.
[1955 Code, sec. 563; 1935, ch. 409, sec. 6]
Control by Commission; rules and regulations. Either before, during or upon the completion of the dams, reservoirs, structures, machinery and appurtenances deemed necessary for the control of the flow of water in the Upper Potomac River and its tributary rivers and streams within said district, the Commission is empowered to take over, acquire, control, maintain and operate said dams, reservoirs and appurtenances in its own name and at its own expense and to make and enforce such rules and regulations as may be required by reason of such contracts or agreements or as said Commission may deem necessary to properly control the flow of said water for the purposes hereof.
Tax levy. The County Commissioners of Allegany County shall, in the event that the Commission succeeds in obtaining the things necessary to properly control the flow of the waters contemplated by this chapter, annually levy upon the assessed property of said County a tax sufficient for maintaining and operating said dams, reservoirs, etc., and at least 30 days prior to the date of the making of the annual levy in said Allegany County, said Commission shall certify under oath to the County Commissioners of Allegany County the total amount of its outstanding monetary obligations, as well as the estimated amount of money necessary to continue the operation and maintenance of said dams, reservoirs, etc., for the following fiscal year, and said County Commissioners shall pay unto the Treasurer of the Commission the amount so levied in the same manner as the other expenses of said County are usually paid. In the event that said Commission shall begin the operation and maintenance of said dams, reservoirs, etc., at a time after the signing of the levy for that particular year, the County Commissioners of Allegany County shall pay, in like manner from their contingent fund, sums of money sufficient for the maintenance and operation for the balance of that fiscal year.
[1955 Code, sec. 564; 1935, ch. 409, sec. 7; 2009, ch. 676]
If the County Commissioners of Allegany County shall at any time hereafter deem it advisable and expedient for the welfare of the citizens of Allegany County to make a capital outlay or expenditure of money to assist the Commission in aid of the acquisition, construction, or maintenance of any lands, structures, buildings, dams, impounding reservoirs, streambeds, waterways, roadways, rights-of-way, water rights or watersheds and appurtenances within the district the County Commissioners may borrow any amount necessary for such purpose from any governmental agency authorized to make such a loan at reasonable interest rates, or issue and sell bonds as authorized under Article 25B, §§ 14 through 21, of the Annotated Code of Maryland.
The bonds issued under this chapter shall be exempt from the provisions of Article 31, §§ 9 through 11, of the Annotated Code of Maryland.
The bonds and interest on the bonds shall be exempt from all state, County and municipal taxation in the State of Maryland.
On the procuring of said loan or the sale of said bonds, the County Commissioners of Allegany County shall give all the proceeds of the loan or sale to the Commission, to be used by it in carrying out the purposes and intentions of this chapter.
[1955 Code, sec. 565; 1941, ch. 342, sec. 7A]
Agreement authorized. Said Upper Potomac River Commission and the State Department of Forestry are hereby authorized to enter into an agreement for the conveyance or lease of all or such part of the lands which said Commission has acquired or may hereafter acquire above the 1,483.5 contour level by said Commission to the State Department of Forestry. Said agreement may provide that the property so conveyed or leased shall be planted in trees by the State Department of Forestry, where necessary, and that said lands shall be maintained in a forest cover for the protection of the watershed. Said agreement shall provide, however, that the Commission shall have in perpetuity, through its agents and servants, the right of ingress and egress over and upon said lands for the purpose of inspection and maintenance of the aforesaid Savage River Dam.
Powers of contracting parties. Said Upper Potomac River Commission and said State Department of Forestry shall have the power, by agreement, to prescribe the rights, duties, obligations, privileges and powers of each of said contracting parties as to the lands so conveyed or leased and the right of access to or over the lands not conveyed or leased belonging to or under the control of either of said contracting parties.
[1955 Code, sec. 566; 1935, ch. 409, sec. 8]
It shall be unlawful for any person or persons to violate or interfere with any regulations of said Commission for the flow of said waters or to interfere with the operations of said dams, reservoirs, machinery and appurtenances thereof. Any person or persons who shall violate any of the provisions of this section shall be deemed guilty of a misdemeanor and, upon conviction thereof shall be subject to a fine not exceeding $100 or to confinement for a period not exceeding 30 days, or both, in the discretion of the court, and each violation shall be considered a separate offense, and conviction for one offense shall not be a bar against conviction for any offense arising thereafter.
[Adopted as Ch. 76, Art. II, of the 1984 Code]
[1957, ch. 560, sec. 563M]
It is the intent and purpose of this article that the facilities for the treatment of sewage and industrial and other wastes authorized herein shall be wholly a self-liquidating project, and the Commission shall not use any moneys appropriated by the County or by the state or by any municipality for any of the Commission's other operations or projects or any moneys realized from any of the Commission's other operations or projects to pay any part of the cost or current expenses of such facilities.
Editor's Note: The preamble to ch. 560 of 1957 was as follows:
"Whereas, the Upper Potomac River Commission was created by Chapter 409 of the Acts of 1935 for the purpose of regulating the flow of water in the Upper Potomac River; and
"Whereas, said Commission has caused to be constructed and is operating the Savage River Dam and is thereby regulating the flow of water in the Upper Potomac River; and
"Whereas, in conjunction with regulating the flow of said river, it is deemed advisable and desirable that said Commission reduce pollution in the Upper Potomac River by constructing, purchasing or otherwise acquiring, maintaining and operating facilities for the treatment and disposal of sewage, industrial and other wastes in the Luke-Westernport area and any area contiguous thereto or in the vicinity thereof."
[1957, ch. 560, sec. 563L; 1976, ch. 43, sec. 623]
As used in this article, the following terms shall have the meanings indicated:
- As applied to any facilities financed under the provisions of this article, shall embrace the cost of construction, purchase or acquisition; the cost of all labor, materials, machinery and equipment; the cost of all lands, property, rights, easements and interests acquired by the Commission in connection with the facilities; financing charges; interest prior to and during construction and for one year after completion of construction; the cost of revenue estimates and of engineering and legal services, plans, specifications, surveys, estimates of cost and of revenues, expenses necessary or incident to determining the feasibility or practicability of the facilities; administrative expense; and such other expenses as may be necessary or incident to the construction, purchase or acquisition of such facilities, the financing thereof and the issuance of bonds under the provisions of this article and placing the facilities in operation.
- CURRENT EXPENSES
- The Commission's reasonable and necessary current expenses of maintaining, repairing and operating the facilities, and shall include, without limiting the generality of the foregoing, all administrative expenses, insurance premiums, engineering expenses relating to operation and maintenance, legal expenses, charges of the paying agents, ordinary and usual expenses of maintenance and repair, which may include expenses not annually recurring, expenses incurred in the performance of its powers and duties under the provisions of this article and any other expenses required to be paid by the Commission under the provisions of any trust agreement securing revenue bonds or by law, but shall not include any allowance for depreciation or transfers to the credit of the sinking fund for the revenue bonds.
- FACILITY and FACILITIES
- Includes complete works for the treatment of sewage, industrial and other wastes in the Luke-Westernport area and any area contiguous to that area or in the vicinity of that area, including all plants, systems, facilities or properties used or useful or having the present capacity for future use in connection with the collection, carrying away, treating, neutralizing, stabilizing or disposing of sewage, industrial wastes or other wastes, and any integral part of them, including sewage treatment plants, disposal fields, lagoons, pumping stations, drainage ditches, surface water intercepting ditches, outfall sewers, trunk sewers, intercepting sewers, force mains, pipes, pipelines, conduits, equipment, appurtenances and all properties, rights, easements and franchises relating to them and deemed necessary or convenient by the Commission for the operation of them. In addition, the terms include any reconstruction, enlargement or improvement to the works or in addition to them. The terms do not include lateral sewers serving or connecting to individual properties and buildings within the towns of Luke and Westernport or any area served by lateral sewers of the towns, it being reserved to the towns the function, duty, responsibility and authority to erect, build, install, operate and maintain the lateral sewers within their respective jurisdictions.
[1957, ch. 560, sec. 563A]
In addition to the power and authority hereinbefore and otherwise conferred upon it, the Commission is empowered and authorized to reduce pollution in the Upper Potomac River by constructing, purchasing or otherwise acquiring, maintaining and operating facilities for the treatment and disposal of sewage, industrial and other wastes in the Luke-Westernport area and any area contiguous thereto or in the vicinity thereof. In this connection, the Commission is hereby granted, shall have and may exercise all powers necessary or convenient for constructing, purchasing or otherwise acquiring, maintaining and operating such facilities, including the following rights and powers:
Acquiring property. To acquire, by gift, purchase or the exercise of the right of eminent domain, lands or rights in land or water rights in connection therewith; provided, however, that no property or any interest or estate therein owned by any County, city, town or other political subdivision of the state shall be acquired by the exercise of the power of eminent domain without the consent of the governing body of such County, city, town or political subdivision.
Contracts for facilities. To contract, on such terms as it may deem proper, with any municipality, County, corporation, individual or public authority, including any municipality or public authority of any adjoining state, for the construction, purchase or acquisition, maintenance and operation of the facilities, which maintenance and operation may be by contract or lease for revenues that will pay the cost of the facilities as hereinafter defined.
Contracts for waste disposal. To contract, on such terms as it may deem proper, with any municipality, County, corporation, individual or public authority, including any municipality or public authority of any adjoining state, for the treatment and disposal of sewage, industrial and other wastes.
Right of entry; relocation of utility property. To enter upon, use, occupy and dig up any street, road, highway or private or public lands necessary to be entered upon, used or occupied in connection with the acquisition, construction or improvement, maintenance or operation of the facilities, subject, however, to such reasonable local police regulation as may be established by the governing body of any municipality having jurisdiction in the particular respect, and provided that the Commission pays the cost of relocating any sewer, water, gas, electric or other utility property which it is necessary to relocate in order to construct, operate or maintain the facilities, and any such cost of relocation shall be included in the cost of the facilities.
Acceptance of grants. To apply for, receive and accept any federal, state, County, private or other grants for or in aid of the planning, construction, purchase or acquisition, operation, maintenance or financing of any such facilities and to receive and accept contributions from any source of either money, property, labor or other things of value, to be held, used and applied for the purposes for which such grants and contributions may be made, whether such grants are by free grant or gift or otherwise.
[1957, ch. 560, sec. 563B; 1976, ch. 43, sec. 613]
The Commission is hereby authorized and empowered to provide from time to time by resolution for the issuance at one time, or in series, of revenue bonds of the Commission for the purpose of providing funds for paying the cost of facilities for the treatment and disposal of sewage, industrial and other wastes in the Luke-Westernport area and any area contiguous to that area or in the vicinity of that area. These bonds and any interest coupons to be attached to them shall be executed in the manner determined by the Commission.
The bonds of each series issued under the provisions of this section shall bear interest at a rate or rates as determined by the commission, payable semiannually, and shall be stated to mature at such time or times, not exceeding 40 years from their date, as may be determined by the Commission.
Payment of proceeds. The proceeds of the bonds of each series issued under the provisions of this section shall be paid to the trustee under the trust agreement securing such bonds and shall be disbursed in such manner and under such restrictions, if any, as may be provided in such trust agreement.
Bonds payable from revenues. Revenue bonds issued under the provisions of this article shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision, but such bonds shall be payable solely from the funds herein provided therefor from revenues of the facilities. All such revenue bonds shall contain on the face thereof a statement to the effect that neither the Commission nor the state nor any political subdivision thereof shall be obligated to pay the same or the interest thereon except from revenues and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.
Additional bonds. If the proceeds of the revenue bonds of any series issued under the provisions of this section, by reason of increased construction costs or error in estimates or otherwise, shall be less than the amount required for the purpose for which such bonds are authorized, additional bonds may, in like manner, be issued to provide the amount of such deficiency and shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued. If the proceeds of such bonds shall exceed the amount so required, such excess shall be deposited to the credit of the sinking fund for such bonds.
[1957, ch. 560, sec. 563C; 1976, ch. 43, sec. 614]
Form; redemption. The Commission shall determine the form of the bonds of each series issued under the provisions of this article, including any interest coupons to be attached thereto, the date of the bonds, the denomination or denominations of the bonds and the place or places of payment of principal and interest, which may be at any bank or trust company within or without the State of Maryland. The bonds of each such series may be made redeemable before their maturity or maturities, at the option of the Commission, at such price or prices and under such terms and conditions as may be fixed by the Commission prior to the issuance of the bonds.
Signatures; negotiability. In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or coupons shall cease to be such officer before the delivery of such bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office until such delivery. Notwithstanding any other provision of this article or any recitals in any bonds issued under the provisions of this article, all such bonds shall be deemed to be negotiable instruments under the laws of the state. The bonds may be issued in coupon or in registered form, or both, as the Commission may determine, and provision may be made for the registration of any coupon bonds as to principal alone and also as to both principal and interest, for the reconversion into coupon bonds of any bonds registered as to both principal and interest and for the interchange of coupon and registered bonds.
The bonds of each series issued under the provisions of this article shall be exempt from the provisions of §§ 9, 10 and 11 of Article 31 of the Annotated Code of Maryland (1957 Edition, as amended), and the Commission may sell such bonds in such manner, either at public or at private sale, and for such price as it may determine.
Temporary bonds. Prior to the preparation of definitive bonds, the Commission may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when such bonds shall have been executed and are available for delivery. The Commission may also provide for the replacement of any bonds which shall become mutilated or shall be destroyed or lost.
Issuance. Bonds may be issued by the Commission under the provisions of this article without obtaining the consent of any department, division, commission, board, bureau or agency of the state and without any other proceedings or the happening of any other conditions or things than those proceedings, conditions or things which are specifically required by this chapter.
[1957, ch. 560, sec. 563D]
Revenue bonds issued under the provisions of this article shall be secured by a trust agreement by and between the Commission and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement may pledge or assign the rentals and other revenues of the Commission but shall not convey or mortgage the facilities or any part thereof. Such trust agreement shall contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the Commission in relation to the acquisition or construction of the facilities and the extension, enlargement, improvement, maintenance, operation, repair and insurance of the facilities and the custody, safeguarding and application of all moneys, and may contain provisions for the employment of consulting engineers in connection with such construction and operation of such facilities. It shall be lawful for any bank or trust company incorporated under the laws of this state which may act as depositary of the proceeds of the bonds or of revenues to furnish such indemnifying bonds or to pledge such securities as may be required by the Commission. Such trust agreement shall set forth the rights and remedies of the bondholders and of the trustee and may restrict the individual right of action by bondholders. In addition to the foregoing, such trust agreement may contain such other provisions as the Commission may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement may be treated as an item of current expenses.
[1957, ch. 560, sec. 563E]
Rates and rentals; disposition. The Commission is hereby authorized to fix, revise, charge and collect rentals, rates, fees or other charges for the use of the facilities and to contract with any municipality or political subdivision of this or any other state and any person, partnership, association or corporation desiring the use of the facilities and to fix the terms, conditions, rentals and rates of charges for such use and likewise to fix, revise, charge and collect rentals, rates, fees or other charges for the treating and disposing of sewage and industrial wastes of any municipality or political subdivision of this or any other state or of any person, partnership, association or corporation. Such rentals and other rates, fees and charges shall be so fixed and adjusted as to provide funds sufficient with other revenues, if any, to pay the Commission's current expenses in connection with such facilities, to pay the principal of and the interest on all revenue bonds issued under the provisions of this article as the same become due and payable and to create reserves for such purposes. Such rentals and other rates, fees and charges shall not be subject to supervision or regulation by any department, division, commission, board, bureau or agency of the state or any political subdivision thereof.
Pledge of receipts. The Commission is further authorized to pledge such amount of such rentals and other revenues over and above any amounts necessary to pay such current expenses and to provide such reserves therefor as may be provided for in the trust agreement to the payment of the interest on and the principal of the revenue bonds issued under the provisions of this chapter. The moneys so pledged shall be set aside at such regular intervals and in such amounts as may be provided in the trust agreement in a sinking fund for the payment of such interest, principal and the redemption price or purchase price of such bonds. Such pledge shall be valid and binding from the time when the pledge is made. The rentals or other revenues so pledged and thereafter received by the Commission shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Commission, irrespective of whether such parties have notice thereof.
Filing and recordation. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the Commission. The use and disposition of moneys to the credit of such sinking fund shall be subject to the provisions of the trust agreement. Except as may otherwise be provided in the trust agreement, such sinking fund shall be a fund for all such revenue bonds without distinction or priority of one over another.
[1957, ch. 560, sec. 563F]
All moneys received by the Commission pursuant to the provisions of this article as proceeds from the sale of revenue bonds and as revenues shall be deemed to be trust funds, to be held and applied solely as provided in this article. Any officer to whom or any bank or trust company to which such moneys shall be paid shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and the trust agreement may provide.
[1957, ch. 560, sec. 563G]
Any holder of bonds issued under the provisions of this article or of any of the coupons appertaining thereto and the trustee, except to the extent the rights herein given may be restricted by the trust agreement, may, either at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of this state or granted hereunder or under the trust agreement and may enforce and compel the performance of all duties required by this article or by the trust agreement to be performed by the Commission or by any officer thereof, including the fixing, charging and collecting of rentals and other rates, fees and charges for the use of the projects.
[1957, ch. 560, sec. 563H]
Bonds issued under the provisions of this article are hereby made securities in which all public officers and public agencies of the state and its political subdivisions and all banks, trust companies, savings and loan associations, investment companies and others carrying on a banking business; all insurance companies and insurance associations and others carrying on an insurance business; all administrators, executors, guardians, trustees and other fiduciaries; and all other persons may legally and properly invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the state for any purpose for which the deposit of bonds or other obligations of the state is now or may hereafter be authorized by law.
[1957, ch. 560, sec. 563-1]
The Commission is hereby authorized to provide by resolution for the issuance of its revenue-refunding bonds for the purpose of refunding any revenue bonds then outstanding which shall have been issued under the provisions of this article, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds.
[1957, ch. 560, sec. 563J]
The exercise of the powers granted by this article will be in all respects for the benefit of the people of the State of Maryland, for the increase of their commerce and prosperity and for the improvement of their health and living conditions, and as the operation and maintenance of the facilities by the Commission will constitute the performance of essential governmental functions, the Commission shall not be required to pay any taxes or assessments upon any facilities constructed, purchased or otherwise acquired, maintained and operated by it under the provisions of this article or upon the income therefrom, and the bonds issued under the provisions of this article, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation by the State of Maryland or any of its political subdivisions or by any town or municipality or any other public agency of or within the state.
[1957, ch. 560, sec. 563K]
When the Commission shall have paid or provided for the payment of the principal and interest on all bonds that shall have been issued for the construction, purchase or other acquisition, operation and maintenance of the facilities, the Commission may, subject to any contracts or agreements that it may have concerning the operation or disposition of the facilities, sell, transfer, grant and convey the facilities to any municipality or corporation, public or private, which shall have contributed to the construction, purchase or other acquisition of the facilities by having contracted to furnish and having furnished to the Commission revenues for the treatment of sewage, industrial or other wastes. Any such sale, transfer, grant and conveyance shall be for a purchase price in the amount of the cost of the facilities, plus 10% of such cost, less the aggregate amount contributed to such cost by the purchasing or acquiring municipality or corporation. The terms of any such sale, transfer, grant and conveyance shall, include provision for continuing the then operations of the facilities and the treatment and disposal of all sewage and industrial and other wastes then being handled by the facilities and for those who have contributed to its construction. The net amount received by the Commission from any such sale, transfer, grant or conveyance shall forthwith be paid over by the Commission to any municipality or political subdivision of this or any other state which has contracted with the Commission for the use of the facilities, the payment to each such contract party to be that proportion of said net amount which is equal to the proportion of the contract payment made to it in relation to all the contract payments.