THEODORE R. McKELDIN, GOVERNOR                   181

six per centum per annum, computed with relation to the absolute
maturity of the bonds in accordance with standard tables of bond
values. None of the provisions of Sections 33 and 34 of Article 31
of the Code of Public General Laws of Maryland (1951 Edition) shall
have any application to the bonds hereby authorized and such bonds
are hereby explicitly exempted therefrom, but all such bonds shall
be treated as negotiable instruments, as provided in Section 31 of
Article 31. If the proceeds of such bonds shall exceed the cost of the
Civic Center, the surplus shall be paid into the sinking fund herein-
after provided for the payment of the principal of and interest on
the bonds. Prior to the preparation of definitive bonds, the Authority
may issue temporary bonds, with or without coupons, exchangeable
for definitive bonds upon the issuance of the latter. The Authority
may also provide for the replacement of any bond which shall be-
come mutilated or be destroyed or lost. Revenue bonds may be issued
by the Authority without an election or any other proceedings or
the happening of any other conditions or things than those proceed-
ings, conditions and things which are specified and required by this
Act.

All revenue bonds issued under the provisions of this Act, except
refunding bonds, shall be deemed to be of the same issue, irrespective
of the date of delivery by the Authority, and all such revenue bonds
shall rank equally and be- entitled to payment from the same fund
without preference or priority of the bonds first issued pursuant to
the provisions of this Act.

The Authority is hereby authorized to provide by resolution for
the issuance of its revenue refunding bonds for the purpose of refund-
ing any revenue bonds then outstanding and issued under the pro-
visions 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.

In addition to the revenue bonds which shall be initially issued
under this Act, 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 Civic Center, and
(2) of refunding its revenue bonds which shall theretofore have been
issued for such Civic Center and shall then be outstanding and which
shall then have matured or be subject to redemption or can be re-
quired for retirement.

SEC. 8. And be it further¹ enacted, That

(Proceeds of Bonds.) That all moneys received from any revenue
bonds issued and sold under the provisions of this Act shall be
applied solely for the particular purposes for which such bonds shall
be authorized, including but not limited to, the repayment of any
advances to the Authority provided for in Section 4 (8), or to the
sinking fund created for the payment of such bonds, and are hereby
declared to be trust funds for such purposes or such sinking fund,
as the case may be, 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.