MARVIN MANDEL, Governor                                     521

DEPOSITARY OF THE PROCEEDS OF THE BONDS OR OF REVENUES
TO FURNISH INDEMNIFYING BONDS OR TO PLEDGE SECURITIES
AS MAY BE REQUIRED BY THE BOARD OF DIRECTORS. THE
TRUST AGREEMENT MAY SET FORTH THE RIGHTS AND REMEDIES
OF THE BONDHOLDERS AND OF THE TRUSTEE AND MAY RESTRICT
THE INDIVIDUAL RIGHT OF ACTION BY BONDHOLDERS. IN
ADDITION, THE TRUST AGREEMENT MAY CONTAIN OTHER
PROVISIONS WHICH THE BOARD OF DIRECTORS DEEMS
REASONABLE AND PROPER FOR THE SECURITY OF THE
BONDHOLDERS, INCLUDING, WITHOUT LIMITATION, COVENANTS
TO ABANDON, RESTRICT, OF PROHIBIT THE CONSTRUCTION OR
OPERATION OF COMPETING FACILITIES AND COVENANTS
PERTAINING TO THE ISSUANCE OF ADDITIONAL PARITY BONDS
UPON CONDITIONS STATED THEREIN CONSISTENT WITH THE
REQUIREMENTS OF THIS SUBTITLE. ALL EXPENSES INCURRED
IN CARRYING OUT THE PROVISIONS OF ANY TRUST AGREEMENT
MAY BE TREATED AS A PART OF THE COST OF THE OPERATION
OF ANY PROJECT OR PROJECTS IN CONNECTION WITH WHICH
THE BONDS HAVE BEEN ISSUED.

REVISOR'S NOTE: This subsection is new language
derived from Article 33B, section 16 (a) of
the Code.

(B)      THE PROCEEDS OF THE SALE OF BONDS SECURED BY

A TRUST      AGREEMENT SHALL BE PAID TO THE TRUSTEE UNDER

THE TRUST   AGREEMENT SECURING THE BONDS AND SHALL BE

DISBURSED   IN THE MANNER AND UNDER THE RESTRICTIONS, IF

ANY, THAT   BAY BE PROVIDED IN THE TRUST AGREEMENT.

REVISOR'S NOTE: This subsection is new language
derived from Article 33B, section 16(b) of
the Code.

3-119. REVENUES GENERALLY.

(A) RENTALS, RATES, FEES AND CHARGES
GENERALLY.—THE SERVICE MAY 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, CONTRACT WITH ANY PERSON OR MUNICIPALITY
DESIRING THE USE OF THE SERVICES OR ANY PART OF ANY
PROJECT OR PROJECTS, AND 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 SUBTITLE
SHALL BE FIXED AMD ADJUSTED IN RESPECT OF THE
AGGREGATE THEREOF FROM THE PROJECTS UNDER THE CONTROL
OF THE SERVICE AS TO PROVIDE FUNDS SUFFICIENT WITH
OTHER REVENUES, IF ANY, (1) TO PAY THE COST OF
MAINTAINING, REPAIRING, AND OPERATING ANY PROJECT OR