Marvin Mandel, Governor                             69

project for which bonds are authorized to be issued. The Commis-
sion may issue bonds in one or more series and may provide for one
or more consolidated bond issues, in such terms and provisions as
the Commission may deem necessary. The bonds may be secured by
a pledge of all or any part of the property, revenues and franchises
under its control. Bonds may be issued by the Commission in such
amount, with such maturities and in such denominations and form
or forms, whether coupon or registered, as to principal alone or as
to both principal and interest, as may be determined by the Com-
mission. The Commission may provide for redemption of bonds prior
to maturity on such notice and at such time or times and with such
redemption provisions, including premiums, as the Commission may
determine.

13.06.    Bonds, Resolutions and Indentures Generally.—The Com-
mission may determine and enter into indentures providing for the
principal amount, date or dates, maturities, interest rate, denomina-
tions, form, registration, transfer, interchange, and other provisions
of the bonds and coupons and the terms and conditions upon which
the same shall be executed, issued, secured, sold, paid, redeemed,
funded and refunded. The resolution of the Commission authorizing
any bond or any indenture so authorized under which the bonds are
issued may include all such covenants and other provisions not incon-
sistent with the provisions of this compact, other than any restric-
tion on the regulatory powers vested in the Commission by this
compact, as the Commission may deem necessary or desirable for
the issue, payment, security, protection, or marketing of the bonds,
including without limitation covenants and other provisions as to
the rates or amounts of fees, rents, and other charges to be charged
or made for use of the facilities; the use, pledge, custody, securing
application, and disposition of such revenues, of the proceeds of
the bonds, and of any other monies or contracts of the Commis-
sion; the operation, maintenance, repair, and reconstruction of the
facilities and the amounts which may be expended therefor; the sale,
lease, or other disposition of the facilities; the insuring of the
facilities and of the revenues derived therefrom; the construction or
other acquisition of other facilities; the issuance of additional bonds
or other indebtedness; the rights of the bondholders and of any trus-
tee for the bondholders upon default by the Commission or otherwise;
and the modification of the provisions of the indenture and of the
bonds. Reference on the face of the bonds to such resolution or inden-
ture by its date of adoption or the apparent date on the face thereof
is sufficient to incorporate all of the provisions thereof and of this
compact into the body of the bonds and their appurtenant coupons.
Each taker and subsequent holder of the bonds or coupons, whether
the coupons are attached to or detached from the bonds, has re-
course to all of the provisions of the indenture and of this compact
and is bound thereby.

13.07.    Maximum Maturity.—No bond or its term shall mature in
more than fifty (50) years from its own date, and in the event any
authorized issue is divided into two or more series or divisions, the
maximum maturity date herein authorized shall be calculated from
the date on the face of each bond separately, irrespective of the
fact that different dates may be prescribed for the bonds of each
separate series or division of any authorized issue.

13.08.    Tax Exemption.—All bonds and all other evidences of debt
issued by the Commission under the provisions of this compact and