|
1094 LAWS OF MARYLAND. [CH. 863
ceedings, conditions and things which are specified and re-
quired by this Act.
The resolution providing for the issuance of revenue bonds
may also provide for the issuance of additional revenue bonds,
not exceeding an amount to be fixed in such resolution or trust
indenture, for the purpose of paying the cost of any extensions,
additions and improvements which may thereafter become
necessary; such additional revenue bonds may be sold from
time to time in the manner hereinabove provided, and shall be
deemed a part of the original issue authorized by such resolu-
tion, and shall be issued under such restrictions and limita-
tions as may be prescribed by such resolution or trust inden-
ture; provided, however, that such additional bonds shall rank
equally and on a parity with the other bonds authorized
thereby.
The Authority 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 and issued
under the provisions of this Act. The issuance of such revenue
refunding bonds, the maturities and other details thereof, the
rights of the holders thereof, and the duties of the Authority
in respect to the same, shall be governed by the provisions of
this Act insofar as the same may be applicable.
The Authority is further authorized to provide by resolution
for the issuance of a single issue of its revenue bonds for the
combined purposes of (1) paying the cost of any improvement,
extension, enlargement or reconstruction of the Market, and
(2) of refunding its revenue bonds which shall theretofore
have been issued for such Market and shall then be outstanding
and which shall then have matured or be subject to redemption
or can be acquired for retirement.
SEC. 9. And be it further enacted, That all moneys received
from any revenue bonds issued and sold under the provisions
of this Act shall be applied solely for the purposes for which
the bonds shall be authorized or to the sinking fund created
for the payment of such bonds, and there shall be and there
hereby is created and granted a lien upon such moneys until
so applied in favor of the holders of such bonds or the trustee
hereinafter provided for in respect of such bonds.
SEC. 10. And be it further enacted, That in the discretion
of the Authority, such revenue bonds may be secured by a
trust indenture by and between the Authority 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 all revenues to be re-
ceived from the Market but shall not convey or mortgage the
Market or any part thereof. Either the resolution providing
|