Marvin Mandel, Governor                           489

of any political subdivision thereof other than the Authority or a
pledge of the faith and credit of the State of Maryland or of any
such political subdivision other than the Authority, but shall be pay-
able solely from the funds herein provided therefor. All such bonds
shall contain on the face thereof a statement to the effect that
neither the State of Maryland nor any political subdivision thereof
other than the Authority shall be obligated to pay the same or the
interest thereon except from revenues of the facilities or facility or
the portion thereof for which they are issued and that neither the
faith and credit nor the taxing power of the State of Maryland or
of any political subdivision thereof other than the Authority is
pledged to the payment of the principal of or the interest on such
bonds. The issuance of bonds under the provisions of this subtitle
shall not directly or indirectly or contingently obligate the State of
Maryland or any political subdivision thereof to levy or to pledge
any form of taxation whatever therefor or to make any appropria-
tion for their payment. Nothing contained in this section shall pre-
vent or be construed to prevent the Authority from pledging its full
faith and credit to the payment of bonds or issue of bonds author-
ized pursuant to this subtitle.

152. Provisions applicable to all bonds and notes.

(a)  If any officer whose signature or a facsimile of whose signa-
ture appears on any bonds or coupons or notes ceases to be such
officer before the delivery of the bonds or notes, the signature or
facsimile is nevertheless valid and sufficient for all purposes as if he
had remained in office until delivery.

(b)   The bonds and notes may be issued by the Authority without
obtaining the consent of any agency or unit of the State government,
and without any other proceedings or the happening of any other
conditions or things than those specifically required in this subtitle.

(c)  Bonds and notes issued under this subtitle are hereby made
securities in which all public officers and public agencies of the State
and its political subdivisions and all banks, trust companies, savings
and loan associations, investment companies and others carrying on
a banking business, all insurance companies and insurance associa-
tions and others carrying on an insurance business, all personal
representatives, guardians, trustees and other fiduciaries, and all
other persons may legally and properly invest funds, including capi-
tal in their control or belonging to them. Such bonds and notes are
hereby made securities which may properly and legally be deposited
with and received by any State or municipal officer or any agency or
political subdivision of the State for any purpose for which the de-
posit of bonds or other obligations of the State is now or may here-
after be authorized by law.

152A. Trust Funds.

All moneys received by the Authority as proceeds from the sale
of bonds or notes and all moneys received by way of those revenues
or any other moneys, or portion thereof, from any contracts or
other sources, facility or facilities, or any continuation of facilities
and which are designated by any authorizing resolution or trust
agreement as security for such bonds shall be deemed to be trust
funds to be held and applied solely as provided by the provisions