Theodore R. McKeldin, Governor                      27

14. (Trust Funds.) All monies received by the Authority pur-
suant to the provisions of this Article as proceeds from the sale of
revenue bonds and as revenues shall be deemed to be trust funds,
to be held and applied solely as provided in this Article. Any officer
to whom, or any bank or trust company to which, such monies shall
be paid shall act as trustee of such monies and shall hold and apply
the same for the purposes hereof, subject to such regulations as this
Article and the trust agreement may provide.

15.   (Remedies.) Any holder of bonds issued under the provisions
of this Article or of any of the coupons appertaining thereto, and
the trustee, except to the extent the rights herein given may be
restricted by the trust agreement, may, either at law or in equity,
by suit, action, mandamus or other proceedings, protect and enforce
any and all rights under the laws of this State or granted hereunder
or under the trust agreement, and may enforce and compel the per-
formance of all duties required by this Article or by the trust agree-
ment to be performed by the Authority or by any officer thereof,
including the fixing, charging and collecting of rentals and other
rates, fees and charges for the use of the projects.

16.    (Bonds, Eligible for Investment.) Bonds issued under the
provisions of this Article are hereby made securities in which all
public officers and public agencies of the State and its political sub-
divisions and all banks, trust companies, savings and loan associa-
tions, investment companies and others carrying on a banking busi-
ness, all insurance companies and insurance associations and others
carrying on an insurance business, all administrators, executors,
guardians, trustees and other fiduciaries, and all other persons may
legally and properly invest funds, including capital in their control or
belonging to them. Such bonds are hereby made securities which
may properly and legally be deposited with and received by any State
or municipal officer or any agency or political subdivision of the State
for any purpose for which the deposit of bonds or other obligations
of the State is now or may hereafter be authorized by law.

17.  (Revenue Refunding Bonds.) The Authority is hereby author-
ized to provide by resolution for the issuance of its revenue refunding
bonds for the purpose of refunding any revenue bonds then out-
standing which shall have been issued under the provisions of this
Article, including the payment of any redemption premium thereon
and any interest accrued or to accrue to the date of redemption of
such bonds, and, if deemed advisable by the Authority, for either
or both of the following additional purposes: (i) constructing im-
provements, extensions or enlargements of any project or projects
and (ii) paying all or any part of the cost of any additional port
facility or facilities. The issuance of such bonds, the maturities and
other details thereof, the rights of the holders thereof, and the rights,
duties and obligations of the Authority in respect of the same, shall
be governed by the provisions of this Article which relate to revenue
bonds in so far as the same may be applicable.

18.   (Exemption from Taxation.) (a) The exercise of the powers
granted by this Article will be in all respects for the benefit of the
people of the State of Maryland, for the increase of their commerce
and prosperity, and for the improvement of their health and living