2046

LAWS OF MARYLAND

Ch. 497

CONSTRUED TO AUTHORIZE THE AUTHORITY ADMINISTRATION TO
FINANCE ANY ENERGY PROJECT OR ANY COMBINATION OF ENERGY
PROJECTS BY ANY COMBINATION OF ISSUES OR SERIES OF BONDS
THAT ARE SECURED BY THE PLEDGE OF THE NET OR GROSS REVENUES,
OR A COMBINATION OF NET OR GROSS REVENUES, FROM ANY ENERGY
PROJECT OR COMBINATION OF PROJECTS, DESIGNATED BY A
RESOLUTION DETERMINATION THAT AUTHORIZES THE ISSUANCE OF THE
BONDS OR BY ANY TRUST AGREEMENT SECURING THE BONDS.

(C) ANY NET EARNINGS OF THE AUTHORITY ADMINISTRATION,
BEYOND THAT NECESSARY FOR THE RETIREMENT OF BONDS OR TO
IMPLEMENT THE PUBLIC PURPOSES OR PROGRAMS OF THE AUTHORITY
ADMINISTRATION, MAY NOT INURE TO THE BENEFIT OF ANY PERSON,
OTHER THAN THE STATE OF MARYLAND FOR USE TO ACCOMPLISH THE
PURPOSES OF THIS TITLE SUBTITLE.

13-115. 530.

EXCEPT TO THE EXTENT THESE RIGHTS MAY BE RESTRICTED BY
A RESOLUTION DETERMINATION AUTHORIZING THE ISSUANCE OF, OR
BY ANY TRUST AGREEMENT SECURING THE BONDS, ANY HOLDER OF A
BOND ISSUED UNDER THIS TITLE SUBTITLE OR OF ANY COUPON
PERTAINING TO SUCH A BOND AND THE TRUSTEE MAY, EITHER AT LAW
OR IN EQUITY, BY SUIT, ACTION, MANDAMUS, OR ANY OTHER
PROCEEDINGS, PROTECT AND ENFORCE ANY AND ALL RIGHTS UNDER
THE LAWS OF THIS STATE OR GRANTED UNDER THIS TITLE SUBTITLE
OR UNDER ANY RESOLUTION DETERMINATION OR TRUST AGREEMENT,
ANY AND MAY ENFORCE AND COMPEL THE PERFORMANCE OF ALL DUTIES
REQUIRED BY THIS TITLE SUBTITLE OR BY THE RESOLUTION
DETERMINATION OR TRUST AGREEMENT TO BE PERFORMED BY THE
AUTHORITY ADMINISTRATION OR BY ANY OFFICER, EMPLOYEE, OR
AGENT OF THE AUTHORITY ADMINISTRATION, INCLUDING THE FIXING,
CHARGING, AND COLLECTION OF RATES, RENTALS, FEES, AND
CHARGES AUTHORIZED OR REQUIRED BY THE PROVISIONS OF THE
RESOLUTION DETERMINATION OR TRUST AGREEMENT TO BE FIXED,
CHARGED, AND COLLECTED.

13-116. 531.

BONDS ISSUED UNDER THIS TITLE SUBTITLE ARE SECURITIES
IN WHICH ALL PUBLIC OFFICERS AND PUBLIC BODIES OF THE STATE
OF MARYLAND AND ITS POLITICAL SUBDIVISIONS AND ALL BANKS,
TRUST COMPANIES, SAVINGS AND LOAN ASSOCIATIONS, INVESTMENT
COMPANIES AND OTHERS CARRYING ON A BANKING BUSINESS, ALL
INSURANCE COMPANIES AND INSURANCE ASSOCIATIONS AND OTHERS
CARRYING ON AN INSURANCE BUSINESS, ALL PERSONAL
REPRESENTATIVES, EXECUTORS, ADMINISTRATORS, GUARDIANS,
TRUSTEES, AND OTHER FIDUCIARIES, AND ALL OTHER PERSONS MAY
LEGALLY AND PROPERLY INVEST FUNDS, INCLUDING CAPITAL IN
THEIR CONTROL OR BELONGING TO THEM. THE BONDS ARE
SECURITIES THAT MAY PROPERLY AND LEGALLY BE DEPOSITED WITH
AND RECEIVED BY A STATE OR MUNICIPAL OFFICER OR ANY AGENCY
OR POLITICAL SUBDIVISION OF THE STATE FOR ANY PURPOSE FOR
WHICH THE DEPOSIT OF BONDS OR OTHER OBLIGATIONS OF THE STATE
IS NOW OR SUBSEQUENTLY MAY BE AUTHORIZED BY LAW.

13-117. 532.