92                                Laws of Maryland                         [Ch. 76

any proportion of them or any trustee therefor shall he entitled to
the appointment of a receiver by the Circuit Court, which court
shall have jurisdiction in such proceedings, and which receiver
may enter and take possession of the sewerage facilities, operate
and maintain the same, prescribe rates, fees, or charges, and collect,
receive and apply all revenue thereafter arising therefrom in the
same manner as the municipality itself might do. The provisions of
this Act and any such resolution or resolutions shall be a contract
with the holder or holders of said bonds, and the duties of the
municipality and of its governing body and officers under this Act
and any such resolution or resolutions shall he enforceable by any
bondholder, by mandamus or other appropriate suit, action, or pro-
ceeding in any court of competent jurisdiction.

405F (Validity of Bonds) The said bonds bearing the signatures
of officers in office on the date of the signing thereof shall be valid
and binding obligations, notwithstanding that before the delivery
thereof and payment therefor any or all the persons whose signatures
appear thereon shall have ceased to be officers of the municipality
issuing the same. The validity of said bonds shall not be dependent
on nor affected by the validity or regularity of any proceedings
relating to the planning, acquisition, purchase, construction, recon-
struction, improvement, betterment or extension of the sewerage
facilities for which said bonds are issued. The resolution authorizing
said bonds may provide that the bonds shall contain a recital
that they are issued pursuant to this Act, which recital shall be
conclusive evidence of their validity and of the regularity of their
issuance.

405G (Lien on Bonds) All bonds of the same issue may, subject
to the prior and superior rights of outstanding bonds, claims or
obligations, have a prior and paramount lien on the revenue of the
sewerage facilities (including the revenues of the existing facilities,
if any, comprising sewerage facilities which are being improved,
bettered, or extended, and the revenues to be derived from any
improvements, betterments, and extensions thereafter constructed
or acquired), over and ahead of all bonds of any issue payable from
said revenue which may be subsequently issued and over and ahead
of any claims or obligations of any nature against said revenue
subsequently arising or subsequently incurred. All bonds of the
same issue may he equally and ratably secured without priority by
reason of number, date of bonds, of sale, of execution, or of delivery,
by a lien on said revenue in accordance with the provisions of this
Act and the resolution or resolutions authorizing said bonds, or all
bonds of the same issue, or such ones thereof as may be specified,
may, to the extent and in the manner prescribed, be subordinated
and be junior in standing, with respect to the payment of principal
and interest and the security thereof, to such other bonds as are
designated in the resolution authorizing said bonds.

405H (Bonds may or may not be a general obligation of the
Municipality). (a) In the event the covenants in the resolution
authorizing the issuance of bonds as provided by Section 405E of the
Annotated Code under this Act so provide, no holder or holders of
any bonds issued under this act shall ever have the right to compel
any exercise of taxing power of the municipality to pay said bonds
or the interest thereon, and each bond issued under this act pur-