1170                               Laws of Maryland                         Ch. 526

enlargements of any transportation facilities project or projects and
(ii) paying all or any part of the cost of any additional trans-
portation facilities project or projects. The issuance of such bonds
and the details thereof, the rights of the holders thereof, and the
rights, duties and obligations of the Authority in respect thereto,
shall be governed by the provisions of this subheading relating to
revenue bonds, insofar as they may be applicable.

16.    Interim certificates and bond anticipation notes.

The Authority is further authorized and empowered to provide by
resolution: (i) for the issuance, prior to the preparation of defini-
tive bonds, of interim receipts CERTIFICATES or temporary bonds,
with or without coupons, exchangeable for definitive bonds when such
bonds have been executed and are available for delivery; and/or (ii)
for the issuance and sale of its bond anticipation notes, the principal
of and interest on said notes to be made payable to the bearer or regis-
tered holder thereof out of the first proceeds of sale of any bonds issued
under this subheading, and the resolution may provide for the is-
suance of such bond anticipation notes in series as funds are re-
quired and for the renewal of such notes at maturity with or without
resale. The issuance of such notes and the details thereof, the rights
of the holders thereof, and the rights, duties and obligations of the
Authority in respect thereto, shall be governed by the same pro-
visions of this subheading relating to the issuance of bonds in anti-
cipation of the sale of which the notes were issued, insofar as those
provisions may be applicable.

17.    Trust Agreement.

(a) Revenue bonds issued under the provisions of this subheading
may be secured by a trust agreement by and between the Authority
and a corporate trustee, which may be any trust company, or bank
having trust powers, within or without the State. Such trust agree-
ment may pledge or assign all or any part of the revenues of the
Authority or of any transportation facilities project OR PROJECTS,
but may not mortgage any such project or any part thereof. Any such
trust agreement or resolution authorizing the issuance of bonds may
contain such provisions for the protection and enforcement of the
rights and remedies of bondholders as may be deemed reasonable and
proper, including covenants setting forth the duties of the Authority
in relation to the financing or development of any transportation facil-
ities project and the extension, enlargement, improvement, mainte-
nance, operation, repair and insurance of any such project and the
custody, safeguarding and application of moneys and may contain
provisions for the employment of consulting engineers in connection
with the construction or operation of any such project. It shall be
lawful for any bank or trust company incorporated under the laws
of this State which may act as depositary of the proceeds of the
bonds or of revenues to furnish such indemnifying bonds or to pledge
such securities as may be required by the Authority. 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. In addition to the foregoing such trust agreement may
contain such other provisions as the Authority may deem reasonable
and proper for the security of the bondholders, including, without
limitation, covenants to restrict or prohibit the construction or