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Session Laws, 1968
Volume 683, Page 1194   View pdf image
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1194                           LAWS OF MARYLAND                      CH. 609

EXPERTS IN CONNECTION WITH ANY SUCH ACQUISITION,
CONSTRUCTION, MAINTENANCE OR OPERATION; (C) THE
TERMS AND PROVISIONS OF THE BONDS AND THE SECUR-
ING OF THE PROCEEDS THEREOF, THE IMPOSITION AND
COLLECTION OF ASSESSMENTS, CHARGES AND RENTALS
FOR THE USE OF ANY SUCH PROJECT OR PROJECTS AND
THE USE, APPLICATION AND SECURITY OF ANY REV-
ENUES SO COLLECTED, INCLUDING THE ESTABLISHMENT,
DEPOSIT AND SECURING FROM ANY SUCH REVENUES
FOR DEBT SERVICE ON, OR PRIOR REDEMPTION OF, ANY
SUCH REVENUE BONDS, OR FOR THE MAINTENANCE,
OPERATION AND IMPROVEMENT OF ANY SUCH PROJECT
OR PROJECTS; (D) THE INSURANCE ON ANY SUCH PROJ-
ECT OR PROJECTS; (E) THE ISSUANCE OF ADDITIONAL
REVENUE BONDS FOR ANY SUCH PROJECT OR PROJECTS
AND THE LIMITATIONS THEREON; (F) THE POWERS,
DUTIES AND INDEMNIFICATION OF ANY TRUSTEE; OR ITS
SUCCESSOR, PARTY TO ANY SUCH TRUST INDENTURE;
(G) THE RIGHTS AND REMEDIES OF SAID TRUSTEE AND
OF BONDHOLDERS IN THE EVENT OF ANY DEFAULT BY
THE COMMISSION UNDER ANY SUCH TRUST INDENTURE,
WHICH RIGHTS AND REMEDIES MAY INCLUDE THE TAK-
ING OVER OF ANY OPERATION BY SAID TRUSTEE OR BY
A RECEIVER APPOINTED BY A COURT OF COMPETENT
JURISDICTION OF THE PROJECT OR PROJECTS FINANCED
WITH THE PROCEEDS OF ANY SUCH ISSUE OF REVENUE
BONDS SECURED BY SUCH TRUST INDENTURE, AND THE
MARSHALLING OF THE REVENUES FROM ANY SUCH PROJ-
ECT OR PROJECTS FOR THE USE AND BENEFIT OF BOND-
HOLDERS. IN ADDITION TO THE COVENANTS ENUME-
RATED ABOVE BUT SUBJECT TO THE LIMITATIONS HERE-
IN CONTAINED, THE COMMISSION IS HEREBY AUTHOR-
IZED AND EMPOWERED TO MAKE SUCH FURTHER ADDI-
TIONAL COVENANTS IN ANY SUCH TRUST INDENTURE,
OF LIKE OR DIFFERENT CHARACTER AS, IN ITS JUDG-
MENT, MAY BE NECESSARY, CONVENIENT OR DESIRABLE
FOR THE BETTER SECURITY OF ANY ISSUE OF ITS REV-
ENUE BONDS SECURED BY ANY SUCH TRUST INDENTURE
OR AS WILL, IN ITS JUDGMENT, TEND TO MAKE ANY SUCH
BONDS MORE MARKETABLE. NOTWITHSTANDING THE
PROVISIONS OF SECTION 10A-16 OF THIS SUBHEADING,
ALL REVENUE BONDS ISSUED UNDER THE PROVISIONS
OF THIS SUBHEADING SHALL NOT BE SUBJECT TO THE
PROVISIONS OF SECTIONS 9, 10 AND 11 OF ARTICLE 31 OF
THE ANNOTATED CODE OF MARYLAND (1967 REPLACE-
MENT VOLUME).

10A-18.

PRIOR TO THE PREPARATION OF THE DEFINITIVE
BONDS AUTHORIZED TO BE ISSUED BY SECTIONS 10A-16
AND 10A-17 OF THIS SUBHEADING, THE COMMISSION MAY,
UNDER LIKE RESTRICTIONS, ISSUE INTERIM RECEIPTS
OR TEMPORARY BONDS, WITH OR WITHOUT COUPONS,
EXCHANGEABLE FOR DEFINITIVE BONDS, WHEN SUCH
DEFINITIVE BONDS HAVE BEEN EXECUTED AND ARE
AVAILABLE FOR DELIVERY. IN ADDITION, THE COMMIS-
SION MAY, IN ANTICIPATION OF THE ISSUANCE OF ANY

 

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Session Laws, 1968
Volume 683, Page 1194   View pdf image
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