180                             LAWS OF MARYLAND                      [CH. 142

by error of estimates or otherwise, shall be less than such cost,
additional bonds without limitation as to the aggregate principal
amount thereof may in like manner be issued to provide the amount
of such deficit, and, unless otherwise provided in the resolution
authorizing the issuance of such bonds or in the trust agreement
securing the same, shall be deemed to be of the same issue and
shall be entitled to payment from the same fund, without preference
or priority of the bonds first issued. If the proceeds of the bonds
of any issue shall exceed the cost of the housing unit or housing
units for which the same shall have been issued, the surplus shall
be deposited to the credit of the sinking fund for such bonds.

248E.

In the discretion of said Board of Trustees any bonds issued
under the provisions of Sections 248B-248K, inclusive, of this sub-
title, may be secured by a trust agreement by and between said
Board of Trustees and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or
without the State. Any such trust agreement may pledge or assign
the income, fees, rents, charges and other revenues to be received
from the use of the housing unit or housing units (including the
related facilities) in connection with which the bonds secured by
such trust agreement shall be issued, but shall not convey or mortgage
any housing unit or any part thereof. Any such trust agreement or
any resolution providing for the issuance of such bonds may con-
tain 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 said Board of Trustees in relation to the acquisition of property
and the construction, improvement, maintenance, repair, operation
and insurance of the housing unit or housing units in connection
with which such bonds shall have been authorized, and the custody,
safeguarding and application of all moneys, and provisions for the
employment of independent consultants in connection with the
construction or operation of such housing unit or housing units. It
shall be lawful for any bank or trust company incorporated under
the laws of the State which may act as depository of the proceeds
of bonds or of revenues to furnish such indemnifying bonds or to
pledge such securities as may be required by said Board of Trustees.
Any such trust agreement may set forth the rights and remedies of
the bondholders and of the trustee, and may restrict the individual
right of action by bondholders as is customary in trust agreements
or trust indentures securing bonds and debentures of corporations.
In addition to the foregoing, any such trust agreement may contain
such other provisions as said Board of Trustees may deem reasonable
and proper for the security of the bondholders, including covenants
to abandon, restrict or prohibit the construction or operation of
competing facilities [.] and covenants pertaining to the issuance of
additional parity bonds upon conditions stated therein within the
limitations of Sections 248B-248K, inclusive, of this subtitle, as
amended from time to time. The resolution providing for the issuance
of bonds may itself constitute a trust agreement if so provided in
such resolution. All expenses incurred in carrying out the provisions
of any such trust agreement may be treated as a part of the cost
of the operation of the housing unit or housing units.