THEODORE R. MCKELDIN, GOVERNOR                      365

VETOES

TITLES AND MESSAGES

Senate Bill No. 13—Maryland Port Authority Bonds

AN ACT to repeal and re-enact, with amendments, subsection (j)
of Section 5, and Sections 9, and 11 of Article 62-B of the Anno-
tated Code of Maryland (1957 Edition), title "Maryland Port Au-
tority", and to repeal Section 8 of that Article and enact a new
Section 8 in lieu thereof, to stand in the place of the section so re-
pealed, repealing the provisions thereof pertaining to the issue by
the Maryland Port Authority of Special Obligation Bonds in the
amount of Fifteen Million Dollars ($15,000,000); providing in lieu
thereof for the creation of a State debt in the aggregate amount of
Fifteen Million Dollars ($15,000,000), the proceeds thereof, to be
used for acquisition of and improvements to certain port facilities,
said debt being payable from the proceeds of the tax on net income
of certain corporations previously provided for and from the pro-
ceeds of a tax on assessable property, hereby levied to the extent
necessary to pay the principal of and interest on the said debt not
paid from the proceeds of the said tax on net income of certain
corporations; providing that funds in the Maryland Port Au-
tority Fund may be used for facilities owned or controlled by the
Authority; to repeal and re-enact with amendments Section 288 (f)
of Article 81 of said Code, (1957 Edition), title "Revenue and
Taxes", sub-title "Income Tax", providing that amounts received
from proceeds of the tax imposed by that section upon the net
income of certain corporations shall be applied first to payments of
principal of and interest on the State debt authorized by this Act,
and the balance to be paid into the Maryland Port Authority Fund.

March 21, 1958.

Honorable Louis L. Goldstein
President of the Senate
State House
Annapolis, Maryland

Dear Mr. President:

I have today vetoed Senate Bill 13, which is returned herewith.
This bill would provide State support for a $15,000,000.00 bond issue
to provide funds for the Maryland Port Authority. This bill dupli-
cates House Bill 174 of the 1958 Special Session.

Since the Attorney General has advised me that Senate Bill 13 is
unconstitutional because it was considered by the Legislature prior
to final passage of the Budget Bill, I am vetoing this bill and will sign
the House Bill, as to which there is no constitutional question.

Sincerely yours,

(s) THEODORE R. MCKELDIN,

Governor.
TRMcK/tk