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MARVIN MANDEL, Governor 547
DENOMINATIONS, FORM, REGISTRATION, TRANSFER, INTERCHANGE
AND OTHER PROVISIONS OF THE BONDS AND COUPONS AND THE
TERMS AND CONDITIONS UPON WHICH THE SAME SHALL BE
EXECUTED, ISSUED, SECURED, SOLD, PAID, REDEEMED, FUNDED
AND REFUNDED. THE RESOLUTION OF THE BOARD AUTHORIZING
ANY BOND OR ANY INDENTURE SO AUTHORIZED UNDER WHICH THE
BONDS ARE ISSUED MAY INCLUDE ALL SUCH COVENANTS AND OTHER
PROVISIONS NOT INCONSISTENT WITH THE PROVISIONS OF THIS
TITLE, OTHER THAN ANY RESTRICTION ON THE REGULATORY
POWERS VESTED IN THE BOARD BY THIS TITLE, AS THE BOARD
MAY DEEM NECESSARY OR DESIRABLE FOR THE ISSUE, PAYMENT,
SECURITY, PROTECTION OR MARKETING OF THE BONDS, INCLUDING
WITHOUT LIMITATION COVENANTS AND OTHER PROVISIONS AS TO
THE RATES OR AMOUNTS OF FEES, RENTS AND OTHER CHARGES TO
BE CHARGED OR MADE FOR USE OF THE FACILITIES; THE USE,
PLEDGE, CUSTODY, SECURING, APPLICATION AND DISPOSITION OF
SUCH REVENUES, OF THE PROCEEDS OF THE BONDS, AND OF ANY
OTHER MONEYS OR CONTRACTS OF THE AUTHORITY; THE
OPERATION, MAINTENANCE, REPAIR AND RECONSTRUCTION OF THE
FACILITIES AND THE AMOUNTS WHICH MAY BE EXPENDED
THEREFOR; THE SALE, LEASE OR OTHER DISPOSITION OF THE
FACILITIES; THE INSURING OF THE FACILITIES AND OF THE
REVENUES DERIVED THEREFROM; THE CONSTRUCTION OR OTHER
ACQUISITION OF OTHER FACILITIES; THE ISSUANCE OF
ADDITIONAL BONDS OR OTHER INDEBTEDNESS; THE RIGHTS OF THE
BONDHOLDERS AND OF ANY TRUSTEE FOR THE BONDHOLDERS UPON
DEFAULT BY THE AUTHORITY OR OTHERWISE; AND THE
MODIFICATION OF THE PROVISIONS OF THE INDENTURE AND OF
THE BONDS. REFERENCE ON THE FACE OF THE BONDS TO SUCH
RESOLUTION OR INDENTURE BY ITS DATE OF ADOPTION OR THE
APPARENT DATE ON THE FACE THEREOF IS SUFFICIENT TO
INCORPORATE ALL OF THE PROVISIONS THEREOF AND OF THIS
TITLE INTO THE BODY OF THE BONDS AND THEIR APPURTENANT
COUPONS. EACH TAKER AND SUBSEQUENT HOLDER OF THE BONDS
OR COUPONS, WHETHER THE COUPONS ARE ATTACHED TO OR
DETACHED FROM THE BONDS, HAS RECOURSE TO ALL OF THE
PROVISIONS OF THE INDENTURE AND OF THIS TITLE AND IS
BOUND THEREBY.
33. MAXIMUM MATURITY.
NO BOND OR ITS TERMS SHALL MATURE IN MORE THAN FIFTY
YEARS FROM ITS OWN DATE AND IN THE EVENT ANY AUTHORIZED
ISSUE IS DIVIDED INTO TWO OR MORE SERIES OR DIVISIONS,
THE MAXIMUM MATURITY DATE HEREIN AUTHORIZED SHALL BE
CALCULATED FROM THE DATE ON THE FACE OF EACH BOND
SEPARATELY, IRRESPECTIVE OF THE FACT THAT DIFFERENT DATES
MAY BE PRESCRIBED FOR THE BONDS OF EACH SEPARATE SERIES
OR DIVISION OF ANY AUTHORIZED ISSUE.
34. TAX EXEMPTION.
ALL BONDS AND ALL OTHER EVIDENCES OF DEBT ISSUED BY
THE AUTHORITY UNDER THE PROVISIONS OF THIS TITLE AND THE
INTEREST THEREON SHALL AT ALL TIMES BE FREE AND EXEMPT
FROM ALL TAXATION BY OR UNDER AUTHORITY OF ANY SIGNATORY
PARTIES, EXCEPT FOR TRANSFER, INHERITANCE AND ESTATE
TAXES.
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