HARRY HUGHES, Governor

2041

(B) THE AUTHORITY ADMINISTRATION SHALL HAVE ABSOLUTE
DISCRETION TO DETERMINE WITH RESPECT TO THE BONDS OF ANY
ISSUE:

(1)  THE DATE OR DATES OF ISSUE;

(2)  THE DATE OR DATES OF MATURITY AND THE AMOUNT
OR AMOUNTS MATURING ON THE DATE OR DATES, PROVIDED ONLY THAT
A BOND OF ANY ISSUE MAY NOT MATURE LATER THAN 40 50 YEARS
FROM THE DATE OF ITS ISSUE;

(3)  THE RATE OR RATES OF INTEREST PAYABLE ON THE
BONDS AND THE DATE OR DATES OF SUCH PAYMENT;

(4)  THE FORM OR FORMS, DENOMINATION OR
DENOMINATIONS, MANNER OF EXECUTION AND THE PLACE OR PLACES
OF PAYMENT OF THE BONDS AND OF THE INTEREST ON THE BONDS,
WHICH MAY BE AT ANY BANK OR TRUST COMPANY IN OR OUTSIDE THIS
STATE;

(5)  THE TERMS AND CONDITIONS ON WHICH THE BONDS
MAY BE REDEEMED PRIOR TO MATURITY AND THE PRICES AT WHICH
THE BONDS MAY BE REDEEMED; AND

(6)  ANY OTHER MATTER RELATING TO THE FORMS,
TERMS, CONDITIONS, ISSUANCE, AND SALE OF THE BONDS.

13-110. 525.

(A)  IN CASE ANY OFFICER OR EMPLOYEE OF THE
ADMINISTRATION WHOSE SIGNATURE OR A FACSIMILE OF WHOSE
SIGNATURE APPEARS ON ANY BONDS OR COUPONS CEASES TO BE SUCH
OFFICER HOLD HIS OR HER OFFICE OR EMPLOYMENT BEFORE THE
DELIVERY OF THE BONDS, THE SIGNATURE OR FACSIMILE SHALL
NEVERTHELESS BE VALID AND SUFFICIENT FOR ALL PURPOSES THE
SAME AS IF THAT OFFICER OR EMPLOYEE HAD REMAINED IN OFFICE
RETAINED HIS OR HER OFFICE OR EMPLOYMENT UNTIL SUCH
DELIVERY.

(B)  NOTWITHSTANDING ANY OTHER PROVISION OF THIS TITLE
SUBTITLE OR ANY RECITALS IN THE BONDS ANY BOND ISSUED UNDER
THIS TITLE SUBTITLE SHALL BE A NEGOTIABLE INSTRUMENT UNDER
THE LAWS OF THIS STATE.

(C)  BONDS ISSUED UNDER THIS TITLE SUBTITLE MAY BE
ISSUED IN COUPON OR IN REGISTERED FORM OR BOTH, AND
PROVISION MAY BE MADE FOR THE REGISTRATION OF ANY COUPON
BONDS AS TO PRINCIPAL ALONE AND ALSO AS TO BOTH PRINCIPAL
AND INTEREST, AND FOR THE INTERCHANGE OF COUPON AND
REGISTERED BONDS. PROVISION MAY ALSO BE MADE FOR THE
REPLACEMENT OF BONDS THAT BECOME MUTILATED OR ARE STOLEN,
LOST OR DESTROYED.

(D)  BONDS ISSUED UNDER THIS TITLE SUBTITLE SHALL BE
EXEMPT FROM THE PROVISIONS OF §§ 10 AND 11 OF ARTICLE 31 OF
THE ANNOTATED CODE, AND THE AUTHORITY ADMINISTRATION MAY
SELL THE BONDS IN ANY MANNER, EITHER AT PUBLIC OR AT PRIVATE