960                                 Laws of Maryland                         Ch. 408

lands lying under water and riparian rights which are located within
or without the State as it may deem necessary or convenient for the
construction or operation of a project, upon such terms and at such
prices as may be considered by it to be reasonable and can be agreed
upon by it and the owner thereof, and to take title thereto in the name
of the Authority or in the name of a participating institution for
higher education or a participating hospital as its agent.

8.    Conveyance of Title.

When the principal of and interest on bonds of the Authority
issued to finance the cost of a particular project or projects for a
participating institution for higher education or for a participating
hospital, including any refunding bonds issued to refund and refi-
nance such bonds, have been fully paid and retired, or when adequate
provision has been made to fully pay and retire the same, and all
other conditions of the resolution or trust agreement authorizing
and securing the same have been satisfied and the lien of such reso-
lution or trust agreement has been released in accordance with the
provisions thereof, the Authority shall promptly do such things and
execute such deeds and conveyances as are necessary and required
to convey title to such project or projects to such participating in-
stitutions for higher education or such participating hospitals, free
and clear of all liens and encumbrances, all to the extent that title
to such project or projects shall not, at the time, then be vested in
such participating institution for higher education or such partici-
pating hospital.

9.    Release of Collateral.

When the principal of and interest on bonds of the Authority
issued to finance the cost of a particular project or projects for a
participating hospital, including any refunding bonds issued to re-
fund and refinance such bonds, have been fully paid and retired, or
when adequate provision has been made to fully pay and retire the
same, and all other conditions of the resolution or trust agreement
authorizing and securing the same have been satisfied and the lien
of such resolution or trust agreement has been released in accord-
ance with the provisions thereof, the Authority shall promptly do
such things and execute such releases and documents as are neces-
sary and required to release securities held as collateral by a trustee
or trustees pursuant to the trust agreement to such participating
institutions for higher education or such participating hospital,
which institution had, pursuant to the trust agreement, deposited
and turned over such securities to a trustee or trustees in order to
assure the full payment and retirement of said bonds, free and clear
of all liens and encumbrances, all to the extent that title to such
securities shall not, at the time, then be vested in such participating
institutions for higher education or such participating hospital.

10.    Notes of Authority.

The Authority shall have the power and is hereby authorized from
time to time to issue its negotiable notes for any corporate purpose
and renew from time to time any notes by the issuance of new notes,
whether the notes to be renewed have or have not matured. The
Authority may issue notes partly to renew notes or to discharge
other obligations then outstanding, and partly for any other purpose.