Theodore R. McKeldin, Governor                      941

(e) Bonds may be issued by the Commission under the provisions
of this law without obtaining the consent of any department, division,
commission, board, bureau or agency of the State, and without any
other proceedings or the happening of any other conditions or things
than those proceedings, conditions or things which are specifically
required by this law.

563D. Trust Agreement. Revenue bonds issued under the provi-
sions of this law shall be secured by a trust agreement by and between
the Commission and a corporate trustee, which may be any trust
company, or bank having the powers of a trust company, within or
without the State. Such trust agreement may pledge or assign the
rentals and other revenues of the Commission, but shall not convey
or mortgage the facilities or any part thereof. Such trust agreement
shall 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 Commission in relation to the acquisition or construction of the
facilities and the extension, enlargement, improvement, maintenance,
operation, repair and insurance of the facilities and the custody, safe-
guarding and application of all moneys, and may contain provisions
for the employment of consulting engineers in connection with such
construction and operation of such facilities. It shall be lawful for
any bank or trust company incorporated under the laws of this State
which may act as depositary of the proceeds of the bonds or of rev-
enues to furnish such indemnifying bonds or to pledge such securities
as may be required by the Commission. Such trust agreement shall
set forth the rights and remedies of the bondholders and of the
trustee and may restrict the individual right of action by bondholders.
In addition to the foregoing, such trust agreement may contain such
other provisions as the Commission may deem reasonable and proper
for the security of the bondholders. All expenses incurred in carrying
out the provisions of such trust agreement may be treated as an item
of Current Expenses.

563E. Revenues, (a) The Commission is hereby authorized to fix,
revise, charge and collect rentals, rates, fees or other charges for the
use of the facilities, and to contract with any municipality or political
sub-division of this or any other State, and any person, partnership,
association or corporation desiring the use of the facilities, and to fix
the terms, conditions, rentals and rates of charges for such use, and
likewise to fix, revise, charge and collect rentals, rates, fees or other
charges for treating and disposing of sewage and industrial wastes
of any municipality or political sub-division of this or any other State,
or of any person, partnership, association or corporation. Such rent-
als and other rates, fees and charges shall be so fixed and adjusted
as to provide funds sufficient with other revenues, if any, (i) to pay
the Commission's current expenses in connection with such facilities,
(ii) to pay the principal of and the interest on all revenue bonds issued
under the provisions of this law as the same become due and payable,
(iii) to create reserves for such purposes, (and (iv) to provide funds
for paying the cost of renewals or replacements of such facilities.
Such rentals and other rates, fees and charges shall not be subject
to supervision or regulation by any department, division, commission,
board, bureau or agency of the State or any political sub-division
thereof.