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HARRY HUGHES, Governor
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2077
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having the powers of a trust company within or outside of the
State. Such trust indenture may pledge or assign all revenues to
be received from the market AND THE PARK, but it shall not convey
or mortgage the market OR THE PARK or any part or parts thereof
except with the express consent of the Board of Public Works.
The trust indenture may provide that any money realized from the
sale or the disposition of any of the land, buildings,
structures, facilities, equipment and other property of the
market OR THE PARK may be used to pay the interest on and
principal of the revenue bonds. Either the resolution providing
for the issuance of bonds or the trust indenture may contain
provisions for protecting and enforcing the rights and remedies
of the bondholders as reasonable and proper, not in violation of
law, including covenants setting forth the duties of the
Authority in relation to the construction, acquisition,
improvement, installation, maintenance, operation, repairs, and
insurance of the market AND THE PARK and the custody,
safeguarding, and application of all moneys; and may provide that
the market AND THE PARK be constructed and paid for under the
supervision and approval of consulting engineers employed or
designated by the Authority and satisfactory to the original
purchasers of the bonds issued hereunder; and may further provide
that the security given by contractors and by any depositary of
the proceeds of the bonds or revenues of the market AND THE PARK
or other moneys pertaining thereto be satisfactory to the
purchasers. It shall be lawful for any bank or trust company
incorporated under the laws of this State to act as depositary of
the proceeds of the bonds or revenue and to furnish such
indemnity bonds or to pledge such securities as may be required
by the Authority.
The resolution or trust indenture 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. Except as in this subtitle otherwise provided, the
Authority may provide by resolution or by the trust indenture for
the payment of the proceeds of the sale of the bonds and the
revenue of the market AND THE PARK to such officer, board, or
depositary as it determines for the custody thereof, and for the
method of disbursement thereof, with such safeguards and
restrictions as it determines. All expenses incurred in carrying
out such trust indenture may be treated as a part of the cost of
maintenance, operation and repair of the market OR PARK.
421.
(a) The Authority may fix and revise from time to time,
rates or charges for the use of the facilities of the market OR
THE PARK, including any ancillary or other appurtenant
facilities, and charge and collect the same, and contract with
any person, partnership OR, association, [or corporation]
desiring the use of any of the facilities of the market OR THE
PARK or any part or parts thereof, and fix the terms, conditions,
and rates of charges for such use.
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