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2006 LAWS OF MARYLAND
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Ch. 63
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(12) PRESCRIBE ANY PROCEDURE BY WHICH THE TERMS OF CONTRACTS
WITH BONDHOLDERS MAY BE AMENDED OR ABROGATED, THE DOLLAR AMOUNT OF
BONDS WHOSE HOLDERS MUST CONSENT TO AN AMENDMENT OR ABROGATION, AND
THE WAY IN WHICH CONSENT MAY BE GIVEN;
(13) COVENANT AS TO THE USE OF ANY OR ALL OF THE AUTHORITY'S
REAL OR PERSONAL PROPERTY, THE REPLACEMENT OF THE PROPERTY, THE
INSURANCE TO BE CARRIED ON THE PROPERTY, AND THE USE AND DISPOSITION OF
INSURANCE MONEY;
(14) COVENANT AS TO THE RIGHTS, LIABILITIES, POWERS, AND DUTIES
ARISING ON THE BREACH BY IT OF A COVENANT, CONDITION, OR OBLIGATION;
(15) COVENANT AND PRESCRIBE AS TO THE EVENTS OF DEFAULT AND
TERMS AND CONDITIONS ON WHICH ANY OR ALL OF ITS BONDS BECOME OR MAY BE
DECLARED DUE BEFORE MATURITY, AND AS TO THE TERMS AND CONDITIONS ON
WHICH A DECLARATION AND ITS CONSEQUENCES MAY BE WAIVED;
(16) VEST IN A TRUSTEE OR TRUSTEES OR IN THE BONDHOLDERS OR ANY
PROPORTION OF THEM THE RIGHT TO ENFORCE:
(I) PAYMENT OF THE BONDS; OR
(II) COVENANTS SECURING OR RELATING TO THE BONDS;
(17) VEST IN A TRUSTEE OR TRUSTEES THE RIGHT, IF THE AUTHORITY
DEFAULTS, TO:
(I) TAKE IN POSSESSION, USE, OPERATE, AND MANAGE ALL OR
PART OF A HOUSING PROJECT;
(II) COLLECT THE RENTS AND REVENUES; AND
(III) DISPOSE OF THE MONEY IN ACCORDANCE WITH THE
AGREEMENT OF THE AUTHORITY WITH THE TRUSTEE OR TRUSTEES;
(18) PROVIDE FOR THE POWERS AND DUTIES OF A TRUSTEE OR
TRUSTEES AND LIMIT THE LIABILITIES OF THE TRUSTEE OR TRUSTEES;
(19) PROVIDE THE TERMS AND CONDITIONS ON WHICH THE TRUSTEE OR
TRUSTEES OR BONDHOLDERS OR ANY PROPORTION OF THEM MAY ENFORCE ANY
COVENANT OR RIGHTS SECURING OR RELATING TO THE BONDS;
(20) MAKE OTHER COVENANTS OF A CHARACTER LIKE OR UNLIKE THAT
OF THE COVENANTS EXPRESSLY AUTHORIZED UNDER THIS SECTION; AND
(21) MAKE COVENANTS AND DO ACTS AND THINGS THAT, ALTHOUGH
NOT LISTED IN THIS SECTION:
(I) ARE NECESSARY, CONVENIENT, OR DESIRABLE TO SECURE THE
BONDS OF THE AUTHORITY; OR
(II) IN THE DISCRETION OF THE AUTHORITY, WILL TEND TO MAKE
THE BONDS MORE MARKETABLE.
- 474 -
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