WM. PRESTON LANE, JR., GOVERNOR. 1393

tirement of such outstanding bonds shall be deemed to be a
part of the cost of such bridge. Upon making provision for
such redemption and retirement, all revenues of the Chesa-
peake Bay Ferry System shall be applied to the extent neces-
sary to the payment of the cost of maintaining, repairing
and operating the ferries and other properties belonging to
said system and any residue thereof shall be applied to the
payment of the cost of such bridge or shall be deposited
to the credit of the sinking fund for the revenue bonds issued
for such bridge or for such bridge and other projects. The
current schedules of ferry rates and tariffs shall not be re-
duced during the period of bridge construction. Upon com-
pleting the construction of such bridge and opening the
same to traffic the Commission shall sell or otherwise dispose
of all ferries and other properties belonging to said system,
except such properties as the Commission may deem desirable
to retain in connection with the operation of such bridge
or of the Claiborne-Romancoke Ferry service, and the pro-
ceeds of such sale or other disposition shall be applied to
the payment of any remaining items of cost of such bridge
or shall be deposited to the credit of the sinking fund
for the revenue bonds issued for such bridge or for such
bridge and other projects.

122-I. (Trust Agreement.) In the discretion of the Com-
mission any bonds issued under the provisions of this sub-title
may be secured by a trust agreement by and between the Com-
mission and a corporate trustee, which may be any trust com-
pany or bank having the powers of a trust company within or
without the State. Any such trust agreement may pledge or
assign the tolls and other revenues to be received from the
operation of the project or projects in connection with which
the bonds secured by such trust agreement shall be issued,
but shall not convey or mortgage any project or any part
thereof. Any such trust agreement or any resolution pro-
viding for the issuance of such bonds may contain such pro-
visions 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 of property
and the construction, improvement, maintenance, repair,
operation and insurance of the project or projects in connec-
tion with which such bonds shall have been authorized, and
the custody, safeguarding and application of all moneys, and
provisions for the employment of consulting engineers in con-
nection with the construction or operation of such project or
projects. It shall be lawful for any bank or trust company
incorporated under the laws of the State which may act as