1310 LAWS OF MARYLAND [CH. 463

ity and a corporate trustee, which may be any trust com-
pany or bank having the powers of a trust company. The
resolution authorizing the issuance of the bonds or the
trust agreement may pledge or assign the revenues to be
received from the operation of the project or projects on
account of which the bonds are issued and in the case of
bonds issued to finance a sewerage system may pledge or
assign as security for such bonds the revenues to be re-
ceived from its water system to the extent authorized by
Section 410K of this sub-title, but shall not convey or mort-
gage any project or any part thereof, and 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 Authority in relation to the
acquisition, construction, improvement, maintenance, oper-
ation, repair and insurance of the project or projects on
account of which such bonds are issued and provisions for
the custody, safeguarding and application of all moneys
and for the employment of consulting engineers in con-
nection with such construction, reconstruction, or opera-
tion. Such resolution or trust agreement may set forth
the rights and remedies of the bondholders and of the
trustees in the case of a trust agreement, and may restrict
the individual right of action by bondholders as is cus-
tomary in trust agreements or trust indentures securing
bonds or debentures of corporations. In addition to the
foregoing, such resolution or trust agreement may contain
such other provisions as the Authority may deem reason-
able and proper for the security of the bondholders.
Except as in this sub-title otherwise provided, the Author-
ity may provide for the payment of the proceeds of the
sale of the bonds and its revenues to such officer, board
or depositary as it may designate for the custody thereof,
and for the method of disbursement thereof, with such
safeguards and restrictions as it may determine. All
expenses incurred in carrying out the provisions of such
resolution or trust agreement may be treated as a part
of the cost of operation of the project or projects.

410M. Upon the acquisition or construction of any
sewerage system under the provisions of this sub-title, the
owner of each lot or parcel of land which abuts upon a
street or other public way containing a sanitary sewer
which is a part of or which is served or may be served by
such sewerage system and upon which lot or parcel of
land a building shall have been constructed for residential,
commercial or industrial use, shall, if so required by the