BLAIR LEE III, Acting Governor

2745

20 OF SECTION 3 AND SECTION 16 OF SECTION 4 OF CHAPTER 608
OF THE ACTS OF THE GENERAL ASSEMBLY OF 1976, TOLLS MAY BE
CONTINUED TO BE CHARGED ON THE JOHN F. KENNEDY EXPRESSWAY
AND ANY PROJECT CONSTRUCTED UNDER THE PROVISIONS OF SECTION
3 (BRIDGE, TUNNEL, AND MOTORWAY REVENUE BONDS) OF CHAPTER
608 OF THE ACTS OF THE GENERAL ASSEMBLY OF 1976.

(2) As to all or any part of any transportation
facilities project, the Authority may:

[(1)] (I) Fix, revise, charge, and collect
rentals, rates, fees, tolls, and other charges and revenues
for its use or for its services; and

[(2)] (II) Contract with any person who desires
its use for any purpose and fix the terms, conditions,
rentals, rates, fees, tolls, or other charges or revenues
for this use.

(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 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 ether available revenues, are sufficient
as long as the bonds are outstanding and unpaid to:

(1)    Pay the costs of maintaining, repairing,
and operating 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 REASONABLE reserves THAT ARE
ANTICIPATED WILL BE NEEDED for these purposes[; and

(4)    Provide funds for paying the cost of
replacements, renewals, and improvements].

4-313.

(a) (1) 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 ere 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