418                              LAWS OF MARYLAND                      [CH. 160

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
Authority under the provisions of this Article. Payment for such
transit facilities or equipment, or rental thereof, may be made in
installments, and the deferred installments may be evidenced by
equipment trust certificates as aforesaid, and title to such transit
facilities or equipment may not vest in the Authority until the equip-
ment trust certificates are paid.

(c)    Procedure. The agreement by the Authority to purchase
transit facilities or equipment may direct the vendor to sell and
assign the equipment to a bank or trust company duly authorized to
transact business in Maryland, or to the Federal Department of
Housing and Urban Development TRANSPORTATION, or any suc-
cessor department or agency thereof, as trustee, lessor or vendor, for
the benefit and security of the equipment trust certificates and may
direct the trustee to deliver the transit facilities and equipment to
one or more designated officers of the Authority and may authorize
the trustee simultaneously therewith to execute and deliver a lease of
the transit facilities or equipment to the Authority.

(d)    Agreements and leases. (1) The agreements and leases
shall be duly acknowledged before a person authorized by law to
take acknowledgments of deeds and in the form required for ac-
knowledgment of deeds and such agreements, leases, and equipment
trust certificates shall be authorized by resolution of the Board and
shall contain such covenants, conditions and provisions as may be
deemed necessary or appropriate to insure the payment of the equip-
ment trust certificates from the revenues to be derived from the
operation of the transit system and other funds.

(2) The covenants, conditions and provisions of the agreements,
leases and equipment trust certificates shall not conflict with any
of the provisions of any resolution or trust agreement securing the
payment of bonds or other obligations of the Authority then out-
standing or conflicting with or be in derogation of the rights of the
holders of any such bonds or other obligations.

24. Special tax bonds.

(a) Power to borrow. In addition to the power granted in this

Article to borrow money evidenced by its revenue bonds and equip-

ment trust certificates, the Authority is authorized and empowered

to issue special tax bonds, in the name of the Authority, for any

purposes of this Article, as set forth herein; but the Authority

may not levy or impose any taxes.

(b)