MARVIN MANDEL, Governor

2655

ANY BONDS OR COUPONS CEASES TO BE MEMBER OF THE AUTHORITY
BEFORE THE DELIVERY OF THE BONDS, THE SIGNATURE OR
FACSIMILE IS NEVERTHELESS VALID AND SUFFICIENT FOR ALL
PURPOSES AS IF HE HAD REMAINED IN OFFICE UNTIL DELIVERY.

[[(D)]] (E) NOTWITHSTANDING ANY OTHER PROVISION OF
THIS SUBTITLE OR ANY RECITALS IN ANY BONDS ISSUED UNDER
IT, ALL BONDS SHALL BE DEEMED TO BE NEGOTIABLE
INSTRUMENTS UNDER THE LAWS OF THE STATE.

[[(E)]] (F) THE BONDS MAY BE ISSUED IN COUPON OR IN
REGISTERED FORM, OR BOTH, AND PROVISION MAY BE MADE FOR
THE REGISTRATION OF ANY COUPON BONDS AS TO PRINCIPAL
ALONE AND ALSO AS TO BOTH PRINCIPAL AND INTEREST, FOR THE
RECONVERSION INTO COUPON BONDS OF AMY BONDS REGISTERED AS
TO BOTH PRINCIPAL AND INTEREST, AND FOR THE INTERCHANGE
OF COUPON AND REGISTERED BONDS. THE BONDS MAY BE ISSUED
AS SERIAL BONDS, TERM BONDS, OR ANY COMBINATION THEREOF.

[[(F)]] (G) THE BONDS ARE EXEMPT FROM THE
PROVISIONS OF ARTICLE 31, §§6 AND 7 AND §§ 9 THROUGH 12
OF THE CODE.

[[(G) THE BONDS MAY BE ISSUED BY THE AUTHORITY
WITHOUT OBTAINING THE CONSENT OF ANY UNIT OF THE STATE
GOVERNMENT. HOWEVER, THE AUTHORITY SHALL NOTIFY THE
BOARD OF PUBLIC WORKS OF ITS INTENTION TO SELL BONDS AT
LEAST 30 DAYS IN ADVANCE OF THE ANTICIPATED SALE.]]

[[(H)]] [[(G)]] (H) EXCEPT AS MAY OTHERWISE BE

EXPRESSLY PROVIDED BY THE AUTHORITY, ALL BONDS ISSUED BY
THE AUTHORITY SHALL BE GENERAL OBLIGATIONS OF THE
AUTHORITY, AND PAYABLE OUT OF ANY MONEYS, ASSETS, OR
REVENUES OF THE AUTHORITY, SUBJECT ONLY TO ANY AGREEMENT
WITH BONDHOLDERS PLEDGING ANY PARTICULAR MONEYS, ASSETS
OR REVENUES. THE AUTHORITY MAY ISSUE SUCH TYPES OF BONDS
AS IT MAY DETERMINE, INCLUDING BONDS AS TO WHICH THE
AUTHORIZING RESOLUTION[[,]] OR TRUST AGREEMENT MAY
PROVIDE FOR THE PAYMENT OF PRINCIPAL AND INTEREST:

(1) FROM THE REVENUES OF THE AUTHORITY

RESULTING FROM THE PURCHASE OF HOME MORTGAGE LOANS, OR

INTERESTS IN THEM, FROM MORTGAGE LENDERS WITH THE
PROCEEDS OF THE BONDS;

(2)    FROM THE REVENUES OF THE AUTHORITY
RESULTING FROM THE PURCHASE OF HOME MORTGAGE LOANS, OR
INTERESTS IN THEM, FROM MORTGAGE LENDERS, WHETHER OR NOT
PURCHASED IN WHOLE OR IN PART FROM THE PROCEEDS OF THE
BONDS;

(3)   [[FROM THE REVENUES OF THE AUTHORITY
RESULTING FROM THE MAKING OF LOANS TO MORTGAGE LENDERS;]]