WM. PRESTON LANE, JR., GOVERNOR. 559

executed and are available for delivery. The City may also
provide for the replacement of any bonds which shall become
mutilated or be destroyed or lost. Such revenue bonds may
be issued without any other proceedings or the happening
of any other conditions or things than those proceedings,
conditions or things which are specified and required hereby.

Said revenue bonds and the interest paid thereon, in the
hands of the persons entitled thereto, from time to time, shall
be and remain exempt from all State, county and municipal
taxation of any kind and nature whatsoever in the State of
Maryland.

The ordinance providing for the issuance of the revenue
bonds and the trust agreement hereinafter authorized, may
also contain such limitations upon the issuance of additional
revenue bonds, with respect to the project, as the City may
deem proper, and such additional bonds shall be issued under
such restrictions and limitations as may be prescribed by
such ordinance or trust agreement.

114G. (All Moneys to be Trust Funds.) All moneys re-
ceived by the City, its Municipal Utilities Commission or by
any bank or trust company, acting as trustee or depository,
pursuant to the authority hereof, whether as proceeds from
the sale of revenue bonds, or as rates, charges, fees and other
revenues, shall be deemed to be trust funds, to be held and
applied solely as provided herein. The City shall, in the ordi-
nances authorizing the issuance of general obligation or reve-
nue bonds, or in any trust agreement covering revenue bonds
provide that all persons or officials receiving payment of the
proceeds of the sale of such bonds and the rates, charges, fees
and other revenues to be received from the project shall act as
trustees of such funds, and hold and apply the same to the
purposes hereof, subject to such regulations as such ordinance
or trust agreement may provide.

114H. (Trust Agreement.) In the discretion of the City,
each and any issue of revenue bonds may be secured by a trust
agreement by and between the City and a corporate trustee,
which may be any trust company or bank having the powers
of a trust company within or outside of this State. Such
trust agreement may pledge or assign the net rates, fees,
charges and revenues to be received, but shall not convey or
mortgage the project or any part thereof. Either the ordi-
nance providing for the issuance of revenue bonds or such
trust agreement 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 City in