J. MILLARD TAWES, Governor                       1405

action or suit in a court of competent jurisdiction of any signatory
party require the Authority to account as if it were the trustee of
an express trust, or enjoin any acts or things which may be unlawful
or in violation of the rights of the holders of the bonds. The enumera-
tion of such rights and remedies does not, however, exclude the
exercise or prosecution of any other rights or remedies available
to the holders of bonds.

Article X

Equipment Trust Certificates
317-46. Power—

The Board shall have power to execute agreements, leases and equip-
ment trust certificates with respect to the purchase of facilities or
equipment such as cars, trolley buses and motor buses, or other
craft, in the form customarily used in such cases and appropriate to
effect such purchase, and may dispose of such equipment trust certifi-
cates in such manner as it may determine to be for the best interests
of the Authority. Each vehicle covered by an equipment trust certifi-
cate shall have the name of the owner and lessor plainly marked
upon both sides thereof, followed by the words "Owner and Lessor".

317-47. Payments-
All monies required to be paid by the Authority under the provi-
sions of such agreements, leases and equipment trust certificates shall
be payable solely from the revenue to be derived from the operation
of the transit system or from such grants, loans, appropriations or
other revenues, as may be available to the Board under the provi-
sions of this Title. Payment for such facilities or equipment, or
rentals thereof, may be made in installments, and the deferred in-
stallments may be evidenced by equipment trust certificates as afore-
said, and title to such facilities or equipment may not vest in the
Authority until the equipment trust certificates are paid.

317-48. Procedure—

The agreement to purchase facilities or equipment by the Board
may direct the vendor to sell and assign the equipment to a bank or
trust company, duly authorized to transact business in any of the
signatory States, or to the Housing and Home Finance Administra-
tor, as trustee, lessor or vendor, for the benefit and security of the
equipment trust certificates and may direct the trustee to deliver the
facilities and equipment to one or more designated officers of the
Board and may authorize the trustee simultaneously therewith to
execute and deliver a lease of the facilities or equipment to the
Board.

817-49. Agreements and Leases—

The agreements and leases shall be duly acknowledged before some
person authorized by law to take acknowledgments of deeds and in
the form required for acknowledgment of deeds and such agree-
ments, leases, and equipment trust certificates shall be authorized
by resolution of the Board and shall contain such covenants, condi-
tions and provisions as may be deemed necessary or appropriate to
insure the payment of the equipment trust certificates from the reve-