HARRY HUGHES, Governor

1757

PRINCIPAL and interest SHALL BE MADE solely from the proceeds of
special benefit assessments and other charges imposed and made by
the District on the project or projects [so] financed with the
proceeds of [said] THE bonds, which revenues the District [is
hereby authorized to] MAY pledge to [such] THEIR payment. The
Commission [is hereby authorized and empowered to] MAY fix and
determine the form and tenor of [said] THE revenue bonds, [the]
THEIR denominations [thereof], the rate or rates of interest
payable [thereon] ON THEM, the place or places [of] FOR payment
[thereof], and the method of sale [thereof], all as provided in
Section 28-7 of this subtitle[, except that the]. THE amount of
[such] THE revenue bonds [which may be] issued by the District
[shall be limited only by] MAY NOT EXCEED the cost of the project
or projects [to be] BEING financed [thereby and such revenue
bonds shall contain no guarantee of payment].

(B)  PAYMENT of principal and interest MAY NOT BE GUARANTEED
by the County but, on the contrary, THE BONDS shall recite that
[the] THEIR principal and interest [thereof] are payable solely
from the PRESCRIBED revenues [prescribed therein] or in the
resolution or trust indenture authorizing [the same] THEM.

(C)  The District [is hereby authorized and empowered, in
its discretion, to] MAY secure any revenue bonds issued
[hereunder] UNDER THIS SECTION by an appropriate trust indenture
by and between the District and a corporate trustee, which may be
any trust company, or bank having trust powers, within or outside
the State. Every such trust indenture, and revenue bonds secured
thereby, shall clearly recite that [such] THE bonds are
obligations of the District, payable solely from [the] ITS
revenues [therein prescribed], and do not constitute obligations
of the County or of the State of Maryland. [Any such] A trust
indenture may contain covenants on the part of the District, not
contrary to law, deemed necessary or appropriate by the
Commission for the proper security of the purchasers of [any
such] THE bonds[, but the]. THE District [shall] MAY NOT enter
into [no] ANY covenant which [shall permit said] PERMITS THE
trustee or bondholders [in any manner] to sell or otherwise
divest the District of its title to any project or projects
financed with the proceeds of any such bonds, without the prior
written consent of the County and the District.

(D)   Subject to the [foregoing] limitation     SPECIFIED IN
SUBSECTION (C) OF THIS SECTION, [any such] A trust   indenture may
contain covenants for the protection of bondholders     relating to
all or any of the following:

(1)   [the] THE nature, extent and procedure for
acquiring or constructing any project or projects and [the] THEIR
supervision [thereof];

(2)   [the] THE maintenance and operation of any such
project or projects[,] and [the] THEIR supervision [thereof,];
the employment of consulting engineers, auditors, attorneys and
other experts in connection with any such acquisition,