Marvin Mandel. Governor                         487

(f)   The Authority shall have power to purchase its bonds and
notes out of any funds available therefor. The Authority may hold,
pledge, cancel or resell such bonds subject to and in accordance with
agreements with bondholders.

(g)  Rates, rents, fees and charges shall be fixed and adjusted
in respect of the aggregate of rates, rents, fees and charges from
the facilities so as to provide funds sufficient with other revenues or
monies available therefor, if any, (1) to pay the cost of maintaining,
repairing and operating the facilities and each and every portion
thereof, to the extent that the payment of such cost has not other-
wise adequately been provided for, (2) to pay the principal of and
the interest on outstanding bonds of the Authority issued in respect
of such facilities as the same shall become due and payable and (3)
to create and maintain reserves required or provided for in any
resolution authorizing, or trust agreement securing, such bonds of
the Authority. Such rates, rents, fees and charges shall not be sub-
ject to supervision or regulation by any department, commission,
board, body, bureau or agency of this State other than the Authority.
The rates, rents, fees and charges and other revenues or other monies
pledged to debt service and sinking fund payments and thereafter
received by the Authority 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 claims of any kind in tort, contract or otherwise
against the Authority, irrespective of whether such parties have
notice thereof. No document by which a pledge is created need be
filed or recorded except in the records of the Authority.

149. Trust agreement securing bonds.

In the discretion of the Authority, any bonds issued under the
provision of this subtitle may be secured by a trust agreement by and
between the Authority and a corporate trustee or trustees, which
may be any trust company or bank having the powers of a trust
company within or without the State. Such trust agreement or the
resolution providing for the issuance of such bonds may contain
a pledge or assignment of the revenues to be received or proceeds of
any contract or contracts pledged, may serve to convey or mortgage a
facility or any portion thereof, or in lieu thereof, may contain pro-
visions for the creation of a collateral account. Such trust agreement
or the resolution providing for the issuance of such bonds may
contain such provisions for protecting and enforcing the rights and
remedies of the bondholders as may be reasonable and proper and not
in violation of law, including particularly such provisions as have
herein above been specifically authorized to be included in any
resolution or resolutions of the Authority authorizing bonds thereof.
Any such trust agreement may set forth the rights and remedies of
the bondholders and of the trustee or trustees, and may restrict the
individual right of action by bondholders. In addition to the fore-
going, any such trust agreement or resolution may contain such
other provisions as the Authority may deem reasonable and proper
for the security of the bondholders. All expenses incurred in carrying
out the provisions of such trust agreement or resolution may be
treated as a part of the cost of the operation any facility or facilities
in connection with which such bonds shall have been issued.