2638

LAWS OF MARYLAND

Ch. 498

PERSON, THE LEASE MAY PROVIDE THAT UPON THE PAYMENT OF THE BONDS
THAT FINANCED OR REFINANCED THE COST OF THE PROJECT AND INTEREST
THEREON (OR PROVISION FOR SUCH PAYMENT SATISFACTORY TO THE
CORPORATION), THE LESSEE OR ANOTHER PERSON MAY OR SHALL PURCHASE
OR OTHERWISE ACQUIRE THE PROJECT FOR SUCH CONSIDERATION, WHICH
MAY BE NOMINAL, AS MAY BE ESTABLISHED BY THE CORPORATION.

(K) (1) AT THE DISCRETION OF THE CORPORATION, THE BONDS MAY
BE SECURED BY A TRUST INDENTURE BY AND BETWEEN THE CORPORATION
AND CORPORATE TRUSTEE, WHICH MAY BE ANY TRUST COMPANY OR BANK
HAVING THE POWERS OF A TRUST COMPANY WITHIN OR OUTSIDE OF THE
STATE. 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, INCLUDING
COVENANTS SETTING FORTH THE DUTIES OF THE CORPORATION IN RELATION
TO THE CUSTODY, SAFEGUARDING, AND APPLICATION OF ALL MONEYS. IT
SHALL BE LAWFUL FOR ANY CORPORATION OR TRUST COMPANY INCORPORATED
UNDER THE LAWS OF THIS STATE TO ACT AS DEPOSITARY OF THE PROCEEDS
OF THE BONDS OR REVENUES AND TO FURNISH ANY INDEMNITY BONDS OR TO
PLEDGE ANY SECURITIES THAT THE CORPORATION REQUIRES.

(2) THE RESOLUTION OR TRUST INDENTURE MAY SET FORTH
THE RIGHTS AND REMEDIES OF THE BONDHOLDERS AND OF ANY TRUSTEE,
AND MAY RESTRICT THE INDIVIDUAL RIGHT OF ACTION OF BONDHOLDERS.
THE CORPORATION MAY PROVIDE BY RESOLUTION OR BY THE TRUST
INDENTURE FOR THE PAYMENT OF THE PROCEEDS OF THE SALE OF THE
BONDS AND THE REVENUES OF THE CORPORATION TO SUCH OFFICER, BOARD,
OR DEPOSITORY AS IT DETERMINES FOR THEIR CUSTODY AND FOR THE
METHOD OF DISBURSEMENT, WITH SUCH SAFEGUARDS AND RESTRICTIONS AS
IT DETERMINES. ALL EXPENSES INCURRED IN CARRYING OUT ANY TRUST
INDENTURE MAY BE TREATED AS A PART OF THE COST OF OPERATION OF
THE CORPORATION.

557.

(A)  THE CORPORATION MAY FIX AND REVISE FROM TIME TO TIME
RATES OR CHARGES FOR THE USE OF THE SERVICES OF THE CORPORATION,
AND CHARGE AND COLLECT THE SAME, AND CONTRACT WITH ANY PERSON,
PARTNERSHIP, ASSOCIATION, OR CORPORATION DESIRING THE USE OF ANY
OF THE SERVICES OF THE CORPORATION, AND FIX THE TERMS,
CONDITIONS, AND RATES OF CHARGES FOR SUCH USE.

(B)  THE RATES OR CHARGES OF THE CORPORATION SHALL NOT BE
SUBJECT TO SUPERVISION OR REGULATION BY ANY OTHER COMMISSION,
BOARD, BUREAU, OR AGENCY OF THE STATE OR ANY POLITICAL
SUBDIVISION THEREOF. THE RATES, CHARGES, AND ALL OTHER REVENUES
DERIVED BY THE CORPORATION MAY BE APPLIED BY THE CORPORATION TO
ANY LAWFUL PURPOSE, SUBJECT TO THE PROVISIONS OF ANY RESOLUTION,
TRUST INDENTURE, OR OTHER AGREEMENT RELATING TO BONDS OR THE
CORPORATION.

(C)  THE  NET EARNINGS OF THE CORPORATION, ASIDE FROM THOSE
NECESSARY TO    PAY DEBT SERVICE OR TO IMPLEMENT THE CORPORATION'S
PROGRAMS, MAY  NOT INURE TO THE BENEFIT OF ANY PERSON OTHER THAN
THE STATE.