1402                              LAWS OF MARYLAND                       [CH. 869

may issue bonds in one or more series and may provide for one or
more consolidated bond issues, in such principal amounts and with
such terms and provisions as the Board may deem necessary. The
bonds may be secured by a pledge of all or any part of the property,
revenues and franchises under its control. Bonds may be issued
by the Authority in such amount, with such maturities and in such
denominations and form or forms, whether coupon or registered,
as to principal alone or as to both principal and interest, as may
be determined by the Board. The Board may provide for redemption
of bonds prior to maturity on such notice and at such time or times
and with such redemption provisions, including premiums, as the
Board may determine.

317-32. Bonds; Resolutions and Indentures Generally—

The Board may determine and enter into indentures or adopt
resolutions providing for the principal amount, date or dates,
maturities, interest rate, or rates, denominations, form, registration,
transfer, interchange and other provisions of the bonds and coupons
and the terms and conditions upon which the same shall be exe-
cuted, issued, secured, sold, paid, redeemed, funded and refunded.
The resolution of the Board authorizing any bond or any indenture
so authorized under which the bonds are issued may include all such
covenants and other provisions NOT INCONSISTENT WITH THE
PROVISIONS OF THIS TITLE, other than any restriction on the
regulatory powers vested in the Board by this Title, as the Board
may deem necessary or desirable for the issue, payment, security,
protection or marketing of the bonds, including without limitation
covenants and other provisions as to the rates or amounts of fees,
rents and other charges to be charged or made for use of the
facilities; the use, pledge, custody, securing, application and dis-
position of such revenues, of the proceeds of the bonds, and of any
other moneys or contracts of the authority; the operation, mainte-
nance, repair and reconstruction of the facilities and the amounts
which may be expended therefor; the sale, lease or other disposition
of the facilities; the insuring of the facilities and of the revenues
derived therefrom; the construction or other acquisition of other
facilities; the issuance of additional bonds or other indebtedness;
the rights of the bondholders and of any trustee for the bondholders
upon default by the Authority or otherwise; and the modification of
the provisions of the indenture and of the bonds. Reference on the
face of the bonds to such resolution or indenture by its date of
adoption or the apparent date on the face thereof is sufficient to
incorporate all of the provisions thereof and of this title into the
body of the bonds and their appurtenant coupons. Each taker and
subsequent holder of the bonds or coupons, whether the coupons are
attached to or detached from the bonds, has recourse to all of the
provisions of the indenture and of this Title and is bound thereby.

317-33. Maximum Maturity—

No bond or its terms shall mature in more than fifty years from
its own date and in the event any authorized issue is divided into
two or more series or divisions, the maximum maturity date herein
authorized shall be calculated from the date on the face of each
bond separately, irrespective of the fact that different dates may be
prescribed for the bonds of each separate series or division of any
authorized issue.