Theodore R. McKeldin, Governor                    655

8.     (Bondholders Lien)—All moneys received from any revenue
bonds issued and sold under the provisions of this Act shall be
applied solely for the purpose for which the bonds shall be author-
ized 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 herein-
after provided for in respect of such bonds.

9.     (Credit of STATE AND County Not Pledged)—The revenue
bonds, certificates or other evidences of indebtedness issued under the
provisions of this Act shall not be deemed to constitute a debt of the
County or a pledge of the faith and credit of the County or of the State
of Maryland or any political sub-division thereof, but such revenue
bonds, certificates or other evidence of indebtedness shall be payable
solely from the funds of the Authority provided from revenues of
the project or projects of the Authority. All such revenue bonds
shall contain a statement on their face to the effect that Montgomery
County is not obligated to pay such bonds or the interest thereon.
The issuance of the revenue bonds, certificates or other evidence of
indebtedness under the provisions of this Act shall not directly,
indirectly or contingently obligate Montgomery County to levy or
pledge any form of taxation whatever therefor or to make any
appropriation for their payment.

10.     (Trust Indenture)—The Authority is hereby authorized, in
its discretion, to secure any revenue bonds, certificates or other evi-
dence of indebtedness issued to provide funds for the purchase,
acquisition, construction or improvement of any project or projects
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 the State. At any one time
the Authority may, in its discretion, be a party to one or more of
such trust indentures, if revenue bonds have been issued to finance
more than a single project as defined in this Act. Such trust inden-
ture or indentures may pledge or assign all revenues to be received
from any project or projects but shall not convey or mortgage the
project or any part thereof. Either the resolution providing for the
issuance of revenue bonds or such trust indenture or indentures may
contain such provisions for protecting and enforcing the rights and
remedies of the bondholders as may be reasonable and proper, not
in violation of law, including covenants setting forth the duties of
the Authority in relation to the construction, acquisition, improve-
ment, installation, maintenance, operation, repair and insurance of
any project or projects and the custody, safeguarding and applica-
tion of all moneys, and may provide that any project or projects
shall be constructed and paid for under the supervision and approval
of consulting engineers employed or designated by the Authority
and satisfactory to the trustee appointed as provided herein, and if
none, the original purchasers of the bonds issued hereunder. Such
trust indenture or indentures may further provide that the security
given by contractors and by any depositary of the proceeds of the
bonds or revenues of any project or other moneys pertaining thereto,
be satisfactory to the trustee appointed as provided herein, and if
none, the original purchasers of the bonds. It shall be lawful for
any bank or trust company incorporated under the laws of this State