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Ch. 280
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1958
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LAWS OF MARYLAND
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and reenacted, with amendments, to read as follows:
Article - Transportation
4-312.
(b) The rentals, rates, fees, tolls, and other
charges and revenues designated as security for any bonds
issued under this subtitle shall be fixed and adjusted
FROM TIME TO TIME, EITHER WITH RESPECT TO A PARTICULAR
TRANSPORTATION FACILITIES PROJECT OR in respect of the
aggregate of the charges and revenues from [the] OTHER
transportation facilities projects under the control of
the authority, AS MAY BE SPECIFIED BY LAW OR IN ANY
APPLICABLE RESOLUTION OR TRUST AGREEMENT, so as to
provide funds that, together with any other AVAILABLE
revenues, are sufficient AS LONG AS THE BONDS ARE
OUTSTANDING AND UNPAID to:
(1) pay the costs of maintaining, repairing,
and operating [any] THE transportation facilities project
OR PROJECTS financed in whole or in part by ONE OR MORE
SERIES OF outstanding and unpaid bonds, to the extent
that payment is not otherwise provided;
(2) pay the principal of and the interest on
these bonds as they become due and payable;
(3) create reserves for these purposes; and
(4) provide funds for paying the cost of
replacements, renewals, and improvements.
4-313.
(a) (1) [except to the extent that they are
pledged under an applicable trust agreement to secure
revenue bonds of prior issues, all] ALL rentals, rates,
fees, tolls, and other charges and revenues derived from
any transportation facilities project shall be set aside
in a fund known as the "Transportation Authority Fund",
EXCEPT TO THE EXTENT THAT THEY ABE PLEDGED UNDER AN
APPLICABLE TRUST AGREEMENT TO SECURE EITHER:
(I) REVENUE BONDS ISSUED UNDER THIS
SUBTITLE IF THE TRUST AGREEMENT OR BOND AUTHORIZING
RESOLUTION EXPRESSLY PROVIDES THAT THIS SECTION DOES NOT
APPLY TO THOSE BONDS,; OR
(II) REVENUE BONDS OF PRIOR ISSUES.
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4-314.
Without in any way limiting or restricting its
effect or application, this subtitle is intended to
authorize the authority to finance any [transportation
facilities project] ONE OR MORE or any combination of
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