2656

LAWS OF MARYLAND

[Ch. 552

[[(4)]] FROM ANY COMBINATION OF THE FOREGOING
OR ITS FUNDS GENERALLY. ANY SUCH BONDS MAY BE
ADDITIONALLY SECURED BY A PLEDGE OF ANY GRANT, SUBSIDY,
OR CONTRIBUTION FROM THE UNITED STATES OF AMERICA OR ANY
AGENCY OR INSTRUMENTALITY OF IT OR THE STATE OR ANY
AGENCY, INSTRUMENTALITY OR POLITICAL SUBDIVISION OF IT,
OR ANY PERSON, FIRM OR CORPORATION, OR OF ANY INCOME OR
REVENUES, FUNDS OR MONEYS OF THE AUTHORITY FROM ANY
SOURCE WHATSOEVER, OR OF ANY CONTRACTS, MORTGAGES, OR
OTHER SECURITIES OR ASSETS OF ANY KIND, OR ANY
COMBINATION OF THE FOREGOING,

[[(I)]] [[(H)]] (I) THE AUTHORITY MAY PROVIDE, BY

RESOLUTION, FOR THE ISSUANCE OF ITS RENEWAL OR REFUNDING
BONDS FOR THE PURPOSE OF REFUNDING ANY BONDS THEN
OUTSTANDING WHICH WERE ISSUED UNDER THE PROVISIONS OF
THIS SUBTITLE, WHETHER OR NOT THE BONDS TO BE REFUNDED
HAVE MATURED, INCLUDING THE PAYMENT OF ANY REDEMPTION
PREMIUM THEREON AND ANY INTEREST ACCRUED OR TO ACCRUE TO
THE DATE OF REDEMPTION OF THE BONDS. THE ISSUANCE OF
REFUNDING BONDS AND THE DETAILS THEREOF, THE RIGHTS OF
THE HOLDERS OF SUCH BONDS, AND THE RIGHTS, DUTIES, AND
OBLIGATIONS OF THE AUTHORITY IN RESPECT TO SUCH BONDS,
ARE GOVERNED BY THE PROVISIONS OF THIS SUBTITLE RELATING
TO BONDS, INSOFAR AS THESE PROVISIONS MAY BE APPLICABLE.

[[(J)]] [[(I)]] (J) BONDS ISSUED BY THE AUTHORITY

MAY BE SECURED BY A TRUST AGREEMENT BETWEEN THE AUTHORITY
AND A CORPORATE TRUSTEE, WHICH MAY BE ANY TRUST COMPANY,
OR BANK HAVING TRUST POWERS, WITHIN OR WITHOUT THE STATE.
THE TRUST AGREEMENT, OR THE AUTHORIZING RESOLUTION, MAY
PLEDGE OR ASSIGN ALL OR ANY PART OF THE REVENUES OR
ASSETS OF THE AUTHORITY OR OF OTHER AVAILABLE FUNDS OF
THE AUTHORITY OR ANY COMBINATION OF THEM. ANY TRUST
AGREEMENT OR RESOLUTION AUTHORIZING THE ISSUANCE OF BONDS
MAY CONTAIN THE PROVISIONS FOR THE PROTECTION AND
ENFORCEMENT OF THE RIGHTS AND REMEDIES OF THE BONDHOLDERS
DEEMED REASONABLE AND PROPER, INCLUDING COVENANTS SETTING
FORTH THE DUTIES OF THE AUTHORITY IN RELATION TO THE LOAN
TO LENDERS AND MORTGAGE PURCHASE PROGRAMS. ANY BANK OR
TRUST COMPANY INCORPORATED UNDER THE LAWS OF THE STATE
WHICH MAY ACT AS A DEPOSITORY OF THE PROCEEDS OF THE
BONDS OR OF REVENUES MAY FURNISH INDEMNIFYING BONDS OR
PLEDGE SECURITIES AS MAY BE REQUIRED BY THE AUTHORITY.
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 AUTHORITY DEEMS REASONABLE AND
PROPER FOR THE SECURITY OF THE BONDHOLDERS, INCLUDING,
WITHOUT LIMITATION, COVENANTS PERTAINING TO THE ISSUANCE
OF ADDITIONAL BONDS UPON CONDITIONS STATED THEREIN
CONSISTENT WITH THE REQUIREMENTS OF THIS SUBTITLE. ALL
EXPENSES INCURRED IN CARRYING OUT THE PROVISIONS OF ANY