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2233
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MARVIN MANDEL, Governor
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or trust company incorporated under the laws of the State
which may act as a depositary of the proceeds of the
bonds or of revenues to furnish indemnifying bonds or to
pledge securities as may be required by the board of
directors. 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 board of directors
deems reasonable and proper for the security of the
bondholders, including, without limitation, covenants to
abandon, restrict, or prohibit the construction or
operation of competing facilities and covenants
pertaining to the issuance of additional parity bonds
upon conditions stated therein consistent with the
requirements of this subtitle. All expenses incurred in
carrying out the provisions of any trust agreement may be
treated as a part of the cost of the operation of any
project or projects in connection with which the bonds
have been issued.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
Approved May 17, 1977.
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CHAPTER 427
(House Bill 433)
AN ACT concerning
Strip Mining - Injunctions
FOR the purpose of enabling certain courts to enforce
compliance with and enjoin the violation of certain
orders of the Department of Natural Resources made
under the strip mining laws.
BY adding to
Article - Natural Resources
Section 7-517
Annotated Code of Maryland
(1974 Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 7-517 be and it is hereby
added to Article — Natural Resources, of the Annotated
Code of Maryland (1974 Volume and 1976 Supplement) to
read as follows:
Article — Natural Resources
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