SPIRO T. AGNEW, Governor                      1193

BE NEEDED FOR SAID PURPOSE AND TO EVIDENCE SUCH
BORROWING BY THE ISSUANCE AND SALE OF ITS NEGO-
TIABLE REVENUE BONDS, PAYABLE AS TO PRINCIPAL
AND INTEREST SOLELY FROM THE PROCEEDS OF SPECIAL
BENEFIT ASSESSMENTS AND OTHER CHARGES IMPOSED
AND MADE BY THE COMMISSION ON THE PROJECT OR
PROJECTS SO FINANCED WITH THE PROCEEDS OF SAID
BONDS, WHICH REVENUES THE COMMISSION IS HEREBY
AUTHORIZED TO PLEDGE TO SUCH PAYMENT. THE COM-
MISSION IS HEREBY AUTHORIZED AND EMPOWERED TO
FIX AND DETERMINE THE FORM AND TENOR OF SAID
REVENUE BONDS, THE DENOMINATIONS THEREOF, THE
RATE OR RATES OF INTEREST PAYABLE THEREON, THE
PLACE OR PLACES OF PAYMENT THEREOF, AND THE
METHOD OF SALE THEREOF. THE AMOUNT OF SUCH REV-
ENUE BONDS WHICH MAY BE ISSUED BY THE COMMIS-
SION SHALL BE LIMITED ONLY BY THE COST OF THE PROJ-
ECT OR PROJECTS TO BE FINANCED THEREBY AND SUCH
REVENUE BONDS SHALL CONTAIN NO GUARANTEE OF PAY-
MENT OF PRINCIPAL AND INTEREST BY THE COUNTY,
BUT ON THE CONTRARY, SHALL RECITE THAT THE PRIN-
CIPAL AND INTEREST THEREOF ARE PAYABLE SOLELY
FROM THE REVENUES PRESCRIBED THEREIN OR IN THE
RESOLUTION OR TRUST INDENTURE AUTHORIZING THE
SAME. THE COMMISSION IS HEREBY AUTHORIZED AND
EMPOWERED, IN ITS DISCRETION, TO SECURE ANY REV-
ENUE BONDS ISSUED HEREUNDER BY AN APPROPRIATE
TRUST INDENTURE BY AND BETWEEN THE COMMISSION
AND A CORPORATE TRUSTEE, WHICH MAY BE ANY TRUST
COMPANY, OR BANK HAVING TRUST POWERS, WITHIN OR
OUTSIDE THE STATE. EVERY SUCH TRUST INDENTURE,
AND REVENUE BONDS SECURED THEREBY, SHALL CLEAR-
LY RECITE THAT SUCH BONDS ARE OBLIGATIONS OF THE
COMMISSION, PAYABLE SOLELY FROM THE REVENUES
THEREIN PRESCRIBED, AND DO NOT CONSTITUTE OBLIGA-
TIONS OF THE COUNTY OR OF THE STATE OF MARYLAND.
ANY SUCH TRUST INDENTURE MAY CONTAIN COVENANTS
ON THE PART OF THE COMMISSION, NOT CONTRARY TO
LAW, DEEMED NECESSARY OR APPROPRIATE BY THE
COMMISSION FOR THE PROPER SECURITY OF THE PUR-
CHASERS OF ANY SUCH BONDS, BUT THE COMMISSION
SHALL ENTER INTO NO COVENANT WHICH SHALL PER-
MIT SAID TRUSTEE OR BONDHOLDERS IN ANY MANNER
TO SELL OR OTHERWISE DIVEST THE COMMISSION OF ITS
TITLE TO ANY PROJECT OR PROJECTS FINANCED WITH
THE PROCEEDS OF ANY SUCH BONDS, WITHOUT THE
PRIOR WRITTEN CONSENT OF THE COUNTY AND THE
COMMISSION. SUBJECT TO THE FOREGOING LIMITATION,
ANY SUCH TRUST INDENTURE MAY CONTAIN COVENANTS
FOR THE PROTECTION OF BONDHOLDERS RELATING TO
ALL OR ANY OF THE FOLLOWING: (A) THE NATURE,
EXTENT AND PROCEDURE FOR ACQUIRING OR CON-
STRUCTING ANY PROJECT OR PROJECTS AND THE
SUPERVISION THEREOF; (B) THE MAINTENANCE AND
OPERATION OF ANY SUCH PROJECT OR PROJECTS, AND
THE SUPERVISION THEREOF, THE EMPLOYMENT OF CON-
SULTING ENGINEERS, AUDITORS, ATTORNEYS AND OTHER