SPIRO T. AGNEW, Governor                         757

be valid and binding as against all parties having claims of any kind
in tort, contract, or otherwise against the Authority, whether or not
such parties have notice thereof.

(c) Same—Recording; disposition of monies subject to trust
agreement.

Neither the resolution nor any trust agreement by which a pledge
is created need be filed or recorded except in the records of the
Authority. The use and disposition of monies to the credit of the
sinking fund shall be subject to the provisions of the trust agree-
ment. Except as may otherwise be provided in the trust agreement,
the sinking fund shall be a fund for all revenue bonds without dis-
tinction or priority of one over another.

14. Monies received deemed trust funds.

All monies received by the Authority pursuant to this Article as
proceeds from the sale of revenue bonds and as revenues shall be
deemed to be trust funds, to be held and applied solely as provided
in this Article. Any officer to whom, or any bank or trust company
to which the monies are paid shall act as trustee of the monies and
shall hold and apply them for the purposes hereof, subject to such
regulations as this Article and the trust agreement may provide.

15.    Remedies of bondholders and trustee.

Any holder of bonds issued under this Article or of any of the
coupons appertaining thereto, and the trustee, except to the extent
the rights herein given may be restricted by the trust agreement,
may, either at law or in equity, by suit, action, mandamus or other
proceedings, protect and enforce any and all rights under the laws
of this State or granted hereunder or under the trust agreement,
and may enforce and compel the performance of all duties required
by this Article or by the trust agreement to be performed by the
Authority or by an officer thereof, including the fixing, charging
and collecting of rentals and other rates, fees, and charges for the
use of the projects.

16.    Bonds eligible for investment and deposit.

Bonds issued under this Article are hereby made securities in
which all public officers and public agencies of the State and its
political subdivisions and all banks, trust companies, savings and
loan associations, investment companies and others carrying on a
banking business, all insurance companies and insurance associa-
tions and others carrying on an insurance business, all administra-
tors, executors, guardians, trustees and other fiduciaries, and all
other persons may legally and properly invest funds, including capi-
tal in their control or belonging to them. The bonds are hereby made
securities which may properly and legally be deposited with and
received by any State or municipal officer or any agency or political
subdivision of the State for any purpose for which the deposit of
bonds or other obligations of the State is now or may hereafter be
authorized by law.

17.    Revenue refunding bonds.

The Authority may provide by resolution for the issuance of its
revenue refunding bonds for the purpose of refunding any revenue