MARVIN MANDEL, Governor

1645

project or any part thereof. Any such trust agreement or
any 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 covenants setting forth the duties of the
Commission in relation to the acquisition of property and
the construction, improvement, maintenance, repair,
operation and insurance of the project or projects in
connection with which such bonds shall have been
authorized, and the custody, safeguarding and application
of all moneys, and provisions for the employment of
consulting engineers in connection with the construction
or operation of such project or projects. It shall be
lawful for any bank or trust company incorporated under
the laws of the State which may act as depositary of the
proceeds of bonds or of revenues to furnish such
indemnifying bonds or to pledge such securities as may be
required by the Commission. Any such 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 as is customary in trust
agreements or trust indentures securing bonds and
debentures of corporations. In addition to the
foregoing, any such trust agreement may contain such
other provisions as the Commission may deem reasonable
and proper for the security of the bondholders, including
covenants restricting or prohibiting the construction or
operation of competing facilities. All expenses
incurred in carrying out the provisions of any such trust
agreement may be treated as a part of the cost of the
operation of the project or projects.

§14. [§ 129.] Revenues.

(a) Charges for tolls, telephone, etc., lines and
concessions.— The Commission is hereby authorized to
fix, revise, charge and collect tolls for the use of each
project and the different parts or sections thereof, and
to contract with any person, partnership, association or
corporation desiring the use of any part thereof for
placing thereon telephone, telegraph, electric light or
power lines, gas stations, garages, stores, hotels,
restaurants and advertising signs, or for any other
purpose, and to fix the terms, conditions, rents and
rates of charges for such use. Such tolls shall be so
fixed and adjusted in respect to the aggregate of tolls
from the project or projects in connection with which the
bonds of any issue shall have been issued as to provide a
fund sufficient with other revenues, if any, to pay (A)
the cost of maintaining, repairing and operating such
project or projects, (B) the principal of and the
interest on such bonds as the same shall become due and
payable, and to create reserves for such purposes, (C) to
provide funds for paying the cost of replacements,
renewals and improvements, and (D) to provide funds for
paying the cost of constructing, maintaining, repairing
and operating such other projects as are authorized by