HARRY HUGHES, Governor

2651

(B)  ANY BOND RESOLUTION MAY CONTAIN PROVISIONS, WHICH SHALL
BE A PART OF THE CONTRACT WITH THE HOLDERS OF THE BONDS TO BE
AUTHORIZED, AS TO:

(1)  PLEDGING OR ASSIGNING THE REVENUES DERIVED FROM
THE AUTHORITY LOANS AND EDUCATION LOANS WITH RESPECT TO WHICH
SUCH BONDS ARE TO BE ISSUED;

(2)  THE FEES AND OTHER CHARGES TO BE COLLECTED AND
THE SUMS TO BE RAISED IN EACH YEAR THEREBY, AND THE USE,
INVESTMENT, AND DISPOSITION OF SUCH SUMS;

(3)  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;

(4)  LIMITATIONS ON THE USE OF THE EDUCATION LOANS;

(5)  LIMITATIONS ON THE PURPOSE TO WHICH OR THE
INVESTMENTS IN WHICH THE PROCEEDS OF SALE OF ANY ISSUE OF BONDS
THEN OR THEREAFTER TO BE ISSUED MAY BE APPLIED;

(6)  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;

(7)  THE REFUNDING OR REFINANCING OF OUTSTANDING
BONDS;

(8)  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;

(9)  DEFINING THE ACTS OR OMISSIONS WHICH SHALL
CONSTITUTE A DEFAULT IN THE DUTIES OF THE AUTHORITY TO HOLDERS OF
ITS OBLIGATIONS AND PROVIDING THE RIGHTS OR REMEDIES OF SUCH
HOLDERS IN THE EVENT OF A DEFAULT;

(10)  PROVIDING FOR GUARANTEES, PLEDGES OF ENDOWMENTS,
LETTERS OF CREDIT, PROPERTY OR OTHER SECURITY, OR INSURANCE FOR
THE BENEFIT OF THE HOLDERS OF THE BONDS; AND

(11)  ANY OTHER MATTER RELATING TO THE BONDS WHICH THE
AUTHORITY DETERMINES APPROPRIATE.

(C)  NO MEMBER OF THE AUTHORITY NOR ANY PERSON EXECUTING THE
BONDS SHALL BE LIABLE PERSONALLY ON THE BONDS OR SUBJECT TO ANY
PERSONAL LIABILITY OR ACCOUNTABILITY BY REASON OF THE ISSUANCE OF
THE BONDS.