MARVIN MANDEL, Governor

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under the provisions of ARTICLE 89B, §§ 163 to 181,
inclusive, of [this article] THE ANNOTATED CODE OF
MARYLAND (1957 EDITION, AS AMENDED), and, inasmuch as
such project will at all times belong to the State, such
covenant will have the force of contract between the
State and the holders of the revenue bonds or revenue
refunding bonds issued on account of such project.

§15. [§ 130.] Trust funds.

All moneys received pursuant to the authority of
this subheading, whether as proceeds from the sale of
bonds or as revenues, shall be deemed to be trust funds,
to be held and applied solely as provided in this
subheading. The resolution authorizing the issuance of
bonds of any issue or the trust agreement securing such
bonds shall provide that any officer to whom, or any bank
or trust company to which, such moneys shall be paid
shall act as trustee of such moneys and shall hold and
apply the same for the purpose hereof, subject to such
regulations as this subheading and such resolution or
trust agreement may provide.

§16. [§ 131.] Remedies.

Any holder of bonds issued under the provisions of
this subheading or any of the coupons appertaining
thereto, and the trustee under any trust agreement,
except to the extent the rights herein given may be
restricted by such trust agreement, may, either at law or
in equity, by suit, action, mandamus or other
proceedings, protect and enforce any and all rights under
the laws of the State or granted hereunder or under such
trust agreement or the resolution authorizing the
issuance of such bonds, and may enforce and compel the
performance of all duties required by this subheading or
by such trust agreement or resolution to be performed by
the Commission or by any officer thereof, including the
fixing, charging and collecting of tolls.

§17. [§ 132.] Exemption from taxation.

The exercise of the powers granted by this
subheading will be in all respects for the benefit of the
people of the State, for the increase of their commerce
and prosperity, and for the improvement of their health,
living conditions and general welfare, and as the
operation and maintenance of projects by the Commission
will constitute the performance of essential governmental
functions, the Commission shall not be required to pay
any taxes or assessments upon any project or any property
acquired or used by the Commission under the provisions
of this subheading or upon the income therefrom, and the
bonds issued under the provisions of this subheading,
their transfer and the income therefrom (including any
profit made on the sale thereof) shall at all times be
free from taxation by the State of Maryland or by any of
its political subdivisions, or by any town or