3336 ARTICLE 89B

nue bonds, as grants or other contributions, or as tolls and revenues, shall
be deemed to be trust funds, to be held and applied solely as provided in
this sub-title. The Commission shall, in the resolution authorizing the
issuance of bonds or in the trust indenture, provide for the payment of the
proceeds of the sale of the bonds and the tolls and revenues to be received
to any officer, agency, bank or trust company, who shall act as Trustee of
such funds, and hold and apply the same to the purposes hereof, subject to
such regulations as this sub-title and such resolution or trust indenture
may provide.

1937, ch. 356, sec. 112.

130. (Trust Indenture.) In the discretion of the Commission, each
and any issue of such revenue bonds may be secured by a trust indenture
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
outside of the State. Such trust indenture may pledge or assign tolls and
revenues to be received, but shall not convey or mortgage any bridge or
tunnel or any part thereof. Either the resolution providing for the issu-
ance of revenue bonds or such trust indenture may 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, construction, improvement, maintenance, operation, repair
and insurance of the project or projects, and the custody, safeguarding and
application of all moneys, and may also provide that any bridge or tunnel
shall be constructed and paid for under the supervision and approval of
consulting engineers employed or designated by the Commission and sat-
isfactory to the original purchasers of the bonds issued therefor, and may
also require that the security given by contractors and by any depository of
the proceeds of the bonds or revenues or other moneys be satisfactory to
such purchasers. It shall be lawful for any bank or trust company incor-
porated under the laws of this State to. act as such depository and to
furnish such indemnifying bonds or to pledge such securities as may be
required by the Commission. Such indenture may set forth the rights and
remedies of the bondholders and of the trustee, and may restrict the indi-
vidual right of action of bondholders as is customary in trust indentures
securing bonds and debentures of corporations. In addition to the fore-
going, such trust indenture may contain such other provisions as the
Commission may deem reasonable and proper for the security of bond-
holders. All expenses incurred in carrying out such trust indenture may be
treated as a part of the cost of maintenance, operation, and repairs of the
project or projects affected by such indenture.

1937, ch. 356, sec. 113.

131. (Tolls and Revenues.) The Commission is hereby authorized to
fix and to revise from time to time tolls for the use of each project con-
structed or acquired by it and to charge and collect the same, and to con-
tract with any person, partnership, association or corporation desiring
the use of any bridge, its approaches and appurtenances or any part
thereof, for placing thereon water, gas, oil pipe lines, telephone, telegraph,
electric light or power lines, tracks for railroad or railway use, or for any
other purpose, and to fix the terms, conditions and rates of charges for
such use.