2000

LAWS OF MARYLAND

Ch. 652

and if none, the original purchasers of the bonds. [It
shall be lawful for any] ANY bank or trust company
incorporated under the laws of this state [to] MAY act as
depository of the proceeds of the bonds or revenues. [Such]
THE resolution or [such] THE trust indentures may set forth
the rights and remedies of the bondholders and of the
trustee, and may restrict the individual right of action of
bondholders as is customary in trust indentures securing
bonds and debentures of corporations. All expenses incurred
in carrying out [such] A trust indenture may be treated as a
part of the cost of maintenance, operation and repair of any
project or projects.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 653

(House Bill 1131)

AN ACT concerning

Baltimore County - Orphans' Court Judges' Salaries

FOR the purpose of altering the annual salary of the
Baltimore County Orphans' Court judges; and providing
that this salary change does not affect the incumbent
judges.

BY repealing and reenacting, with amendments,

Article - Estates and Trusts

Section 2-108(e)

Annotated Code of Maryland

(1974 Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article — Estates and Trusts

2-108.

(e) Each of the judges of the court for Baltimore
County shall receive an annual compensation of [$10,000]
$14,500. The Chief Judge shall receive an additional $500
annually.

SECTION 2. AND BE IT FURTHER ENACTED, That the