538                                 Laws of Maryland                          ch. 240

17. Revenues.

(a) The Service is hereby authorized to fix, revise, charge and
collect rentals, rates, fees or other charges for the use of or for
the services furnished by any project or projects, and to contract
with any person or municipality desiring the use of the services or
any part of any project or projects and to fix the terms, conditions,
rentals, rates, fees and charges therefor. The rentals and other rates,
fees and charges designated as security for any bonds issued under
this Article shall be so fixed and adjusted in respect of the aggregate
thereof from the projects under the control of the Service so as to
provide funds sufficient with other revenues, if any, (i) to pay the
cost of maintaining, repairing and operating any project or projects
financed in whole or in part by outstanding bonds, to the extent
such cost is not otherwise provided, (ii) to pay the principal of and
the interest on such bonds as the same become due and payable, (in)
to create reserves for such purposes, and (iv) to provide funds for
paying the cost of renewals or replacements, the cost of acquiring
or installing equipment and the cost of enlarging, extending, recon-
structing or improving any such project or projects. Such rentals
and other rates, fees and charges shall not be subject to supervision
or regulation by any department, division, commission, board, bureau
or agency of the State or any political subdivision thereof, except
as provided in Section 26 of this Article.

(b)   The rentals, rates, fees and other charges and revenues, or
any part thereof, whether derived from the project or projects in
connection with which the bonds of any issue shall have been issued
or from other projects, designated as security for such bonds by the
authorizing resolution or in the trust agreement securing the bonds,
shall be set aside at such regular intervals as may be provided in
such resolution or trust agreement in a sinking fund which is hereby
pledged to, and charged with, the payment of (i) the interest upon
such bonds as such interest falls due, (ii) the principal of such bonds
as it falls due, (iii) the necessary charges of paying agents for paying
principal and interest, and (iv) the redemption price or purchase
price of bonds retired by call or purchase as provided in such resolu-
tion or trust agreement; any amounts set aside in such sinking fund
which are not needed to provide for the payment of such items (i),
(ii), (iii) and (iv) may be used for any other lawful purpose to the
extent provided in such resolution or trust agreement. Such pledge
shall be valid and binding from the time when the pledge is made.
Such rentals, rates, fees and other charges, revenues or other moneys
so pledged and thereafter received by the Service shall immediately be
subject to the lien of such pledge without any physical delivery
thereof or further act, and the lien of any such pledge shall be valid
and binding as against all parties having any claims of any kind in
tort, contract or otherwise against the Service, irrespective of
whether such parties have notice thereof. Neither the resolution nor
any trust agreement by which a pledge is created need be filed or
recorded except in the records of the Service, any public general or
public local law to the contrary notwithstanding. The use and dis-
position of moneys to the credit of such sinking fund shall be subject
to the provisions of the resolution authorizing the issuance of such
bonds or of such trust agreement.

(c)   Without in any way limiting or restricting the effect or ap-
plication thereof, the provisions of this Article are intended and shall