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Ch. 13
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550
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LAWS OF MARYLAND
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ADMINISTRATION, OPERATION, MAINTENANCE, IMPROVEMENTS OR
EXTENSIONS OF THE FACILITIES OR OTHER PURPOSES SHALL NOT
BE USED OR PLEDGED FOR ANY OTHER PURPOSE SO LONG AS SUCH
BONDS, OR ANY OF THEM, ARE OUTSTANDING AND UNPAID.
45. REMEDIES.
THE HOLDER OF ANY BOND MAY FOR THE EQUAL BENEFIT AND
PROTECTION OF ALL HOLDERS OF BONDS SIMILARLY SITUATED:
(1) BY MANDAMUS OR OTHER APPROPRIATE PROCEEDINGS REQUIRE
AND COMPEL THE PERFORMANCE OF ANY OF THE DUTIES IMPOSED
UPON THE BOARD OR ASSUMED BY IT, ITS OFFICERS, AGENTS OR
EMPLOYEES UNDER THE PROVISIONS OF ANY INDENTURE, IN
CONNECTION WITH THE ACQUISITION, CONSTRUCTION, OPERATION,
MAINTENANCE, REPAIR, RECONSTRUCTION OR INSURANCE OF THE
FACILITIES, OR IN CONNECTION WITH THE COLLECTION,
DEPOSIT, INVESTMENT, APPLICATION AND DISBURSEMENT OF THE
REVENUES DERIVED FROM THE OPERATION AND USE OF THE
FACILITIES, OR IN CONNECTION WITH THE DEPOSIT, INVESTMENT
AND DISBURSEMENT OF THE PROCEEDS RECEIVED FROM THE SALE
OF BONDS; OR (2) BY ACTION OR SUIT IN A COURT OF
COMPETENT JURISDICTION OF ANY SIGNATORY PARTY REQUIRE THE
AUTHORITY TO ACCOUNT AS IF IT WERE THE TRUSTEE OF AN
EXPRESS TRUST, OR ENJOIN ANY ACTS OR THINGS WHICH MAY BE
UNLAWFUL OR IN VIOLATION OF THE RIGHTS OF THE HOLDERS OF
THE BONDS. THE ENUMERATION OF SUCH RIGHTS AND REMEDIES
DOES NOT, HOWEVER, EXCLUDE THE EXERCISE OR PROSECUTION OF
ANY OTHER RIGHTS OR REMEDIES AVAILABLE TO THE HOLDERS OF
BONDS.
ARTICLE X
EQUIPMENT TRUST CERTIFICATES
46. POWER OF BOARD; MARKING VEHICLE COVERED BY
CERTIFICATE.
THE BOARD SHALL HAVE POWER TO EXECUTE AGREEMENTS,
LEASES AND EQUIPMENT TRUST CERTIFICATES WITH RESPECT TO
THE PURCHASE OF FACILITIES OR EQUIPMENT SUCH AS CARS,
TROLLEY BUSES AND MOTOR BUSES, OR OTHER CRAFT, IN THE
FORM CUSTOMARILY USED IN SUCH CASES AND APPROPRIATE TO
EFFECT SUCH PURCHASE, AND MAY DISPOSE OF SUCH EQUIPMENT
TRUST CERTIFICATES IN SUCH MANNER AS IT MAY DETERMINE TO
BE FOR THE BEST INTERESTS OF THE AUTHORITY. EACH VEHICLE
COVERED BY AN EQUIPMENT TRUST CERTIFICATE SHALL HAVE THE
NAME OF THE OWNER AND LESSOR PLAINLY MARKED UPON BOTH
SIDES THEREOF, FOLLOWED BY THE WORDS "OWNER AND LESSOR."
47. PAYMENTS.
ALL MONIES REQUIRED TO BE PAID BY THE AUTHORITY
UNDER THE PROVISIONS OF SUCH AGREEMENTS, LEASES AND
EQUIPMENT TRUST CERTIFICATES SHALL BE PAYABLE SOLELY FROM
THE REVENUE TO BE DERIVED FROM THE OPERATION OF THE
TRANSIT SYSTEM OR FROM SUCH GRANTS, LOANS, APPROPRIATIONS
OR OTHER REVENUES, AS MAY BE AVAILABLE TO THE BOARD UNDER
THE PROVISIONS OF THIS TITLE. PAYMENT FOR SUCH
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