1172

LAWS OF MARYLAND

Ch. 283

(VI)  BE SUBJECT TO THE TERMS OF PURCHASE,
PAYMENT, REDEMPTION, REFUNDING OR REFINANCING THAT THE RESOLUTION
OR TRUST AGREEMENT PROVIDES;

(VII)  BE EXECUTED BY THE MANUAL OR FACSIMILE
SIGNATURES OF THE OFFICERS OF THE AUTHORITY DESIGNATED BY THE
AUTHORITY WHICH SIGNATURES SHALL BE VALID AT DELIVERY EVEN FOR
ONE WHO HAS CEASED TO HOLD OFFICE; AND

(VIII)  BE SOLD IN THE  MANNER AND UPON THE TERMS
DETERMINED BY THE AUTHORITY INCLUDING  PRIVATE (NEGOTIATED) SALE
AND BE EXEMPT FROM THE PROVISIONS OF §§   8-206 AND 8-208 OF THE
STATE FINANCE AND PROCUREMENT ARTICLE.

(B) ANY RESOLUTION OR TRUST AGREEMENT MAY CONTAIN
PROVISIONS WHICH SHALL BE A PART OF THE CONTRACT WITH THE HOLDERS
OF THE BONDS AS TO:

(1)  PLEDGING, ASSIGNING OR DIRECTING THE USE,
INVESTMENT OR DISPOSITION OF RECEIPTS OF THE AUTHORITY OR
PROCEEDS OR BENEFITS OF ANY CONTRACT AND CONVEYING OR OTHERWISE
SECURING ANY PROPERTY OR PROPERTY RIGHTS;

(2)  THE SETTING ASIDE OF LOAN FUNDING DEPOSITS, DEBT
SERVICE RESERVES, CAPITALIZED INTEREST ACCOUNTS, COST OF ISSUANCE
ACCOUNTS AND SINKING FUNDS, AND THE REGULATION, INVESTMENT, AND
DISPOSITION THEREOF;

(3)  LIMITATIONS ON THE PURPOSE TO WHICH OR THE
INVESTMENTS IN WHICH THE PROCEEDS OF SALE OF ANY ISSUE OF BONDS
MAY BE APPLIED AND RESTRICTIONS TO INVESTMENT OF REVENUES OR BOND
PROCEEDS IN GOVERNMENT OBLIGATIONS FOR WHICH PRINCIPAL AND
INTEREST ARE UNCONDITIONALLY GUARANTEED BY THE UNITED STATES OF
AMERICA;

(4)  LIMITATIONS ON THE ISSUANCE OF ADDITIONAL BONDS,
THE TERMS UPON WHICH ADDITIONAL BONDS MAY BE ISSUED AND SECURED,
THE TERMS UPON WHICH ADDITIONAL BONDS MAY RANK ON A PARITY WITH,
OR BE SUBORDINATE OR SUPERIOR TO, OTHER BONDS;

(5)  THE REFUNDING OR REFINANCING OF OUTSTANDING
BONDS;

(6)  THE PROCEDURE, IF ANY, BY WHICH THE TERMS OF ANY
CONTRACT WITH BONDHOLDERS MAY BE ALTERED OR AMENDED AND THE
AMOUNT OF BONDS THE HOLDERS OF WHICH MUST CONSENT THERETO, AND
THE MANNER IN WHICH CONSENT SHALL BE GIVEN;

(7)  DEFINING THE ACTS OR OMISSIONS WHICH SHALL
CONSTITUTE A DEFAULT IN THE DUTIES OF THE AUTHORITY TO HOLDERS OF
BONDS AND PROVIDING THE RIGHTS OR REMEDIES OF SUCH HOLDERS IN THE
EVENT OF A DEFAULT WHICH MAY INCLUDE PROVISIONS RESTRICTING
INDIVIDUAL RIGHT OF ACTION BY BONDHOLDERS;