1282                            Laws of Maryland                       Ch. 529

securing the bonds holds other security for the payment of the same
or the interest thereon a statement to the effect that neither the
Authority nor the State nor any political subdivision thereof is
obligated to pay the same or the interest thereon except from reve-
nues and from the proceeds of such security and a statement to
the effect that neither the faith and credit nor the taxing power of
the State or any political subdivision thereof is pledged to the pay-
ment of the principal of or the interest on the bonds.]

(e) Deficiency or excess in proceeds.—If the proceeds of the
revenue bonds of any series issued under this section, by reason
of increased construction costs or error in estimates or otherwise,
are less than the amount required for the purpose for which the
bonds are authorized additional bonds may be issued in like man-
ner to provide the amount of the deficiency and shall be deemed
to be of the same issue and entitled to payment from the same
fund without preference or priority of the bonds first issued. If
the proceeds of the bonds exceed the amount so required, the ex-
cess shall be deposited to the credit of the sinking fund for the
bonds, or, if so provided in the trust agreement securing the bonds,
may be applied to the cost of any additional airport facility.

11. Additional provisions as to revenue bonds.

(a)  Determination of form, date, denominations and place of
payment; redemption before maturity.—The Authority shall de-
termine the form of the bonds, of each series issued under [this]
Section 10 or Section 17 of this article, including any interest cou-
pons to be attached thereto, the date of the bonds, the denomination
or denominations of the bonds, and the place or places of payment
of principal and interest, which may be at any bank or trust com-
pany within or without the State of Maryland. The bonds of each
series may be redeemable before their maturity or maturities, at
the option of the Authority, at such price or prices and under such
terms and conditions as fixed by the Authority prior to the issu-
ance of the bonds.

(b)  Signing officer ceasing to be such before delivery; bonds may
be coupon or registered.—If any officer whose signature or a facsimile
of whose signature appears on any bonds or coupons ceases to be
such officer before the delivery of the bonds, the signature or the
facsimile nevertheless shall be valid and sufficient for all purposes
as if he had remained in office until their delivery. Notwithstanding
any other provision of this article or any recitals in any bonds issued
under the provisions of [this] Section 10 or of Section 17 of this
article, all bonds shall be deemed to be negotiable instruments under
the laws of the State. The bonds may be issued in coupon or regis-
tered form or both, as the Authority determines, and provision
may be made for the registration of any coupon bonds as to the
principal alone and also as to both principal and interest, for the
reconversion into coupon bonds of any bonds registered as to both
principal and interest, and for the interchange of coupon and regis-
tered bonds.

(c)  Manner of sale; price.—The bonds of each series issued under
the provisions of phis] Section 10 or of Section 17 of this article
shall be exempt from the provisions of Sections 9, 10, and 11 of
Article 31 of the Annotated Code of Maryland (1957 Edition, as