HARRY HUGHES, Governor

37

(2) Only one place of business may be maintained
under any one license.

13-101.

(g) (1) "Industrial project" means any one or more of
the following:

(vii) Acquisition,                          refinancing,

rehabilitation, or improvement of a public use airport; [or]

(viii) The construction, equipping, or
financing of a sports arena or sports stadium used by a
professional team with a franchise for major or minor league
baseball, basketball, football, ice hockey or soccer[.]; OR

13-108.

(b) (2) The terms of appointed members are staggered
as required by the terms provided for members of the [board]
AUTHORITY on July 1, 1980.

Article - Natural Resources

3-911.

(a) Bonds may be secured by a trust agreement by and
between the Authority and a corporate trustee, which may be
any trust company or bank having trust powers, within or
without the State. Such trust agreement may pledge or
assign all or any part of the revenues of the Authority or
of any project, and may mortgage or grant a lien on or
security interest in any project or any part thereof. Any
such trust agreement or resolution authorizing the issuance
of bonds may contain such provisions for the protection and
enforcement of the rights and remedies of the bondholders as
may be deemed reasonable and proper, including covenants
setting forth the duties of the Authority in relation to the
acquisition or construction of any project, the extension,
enlargement, improvement, maintenance, operation, repair and
insurance of any project and the custody, safeguarding and
application of moneys and may contain provisions for the
employment of consulting engineers and other experts in
connection with the construction or operation of any
project. It shall be lawful for any bank or trust company
incorporated under the laws of this State which may act as
depository of the proceeds of the bonds or of revenues to
furnish such indemnifying bonds or to pledge such securities
as may be required by the Authority. Such trust agreement
may set forth the rights and remedies of the bondholders and
of the trustee and may restrict the individual right of
action by bondholders. In addition to the foregoing, such
trust agreement may contain such other provisions as the
Authority may deem reasonable and proper for the security of
the bondholders, including (without limitation) covenants to
abandon, restrict, or prohibit the construction or operation
of competing facilities and covenants pertaining to the