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Session Laws, 1987
Volume 769, Page 1623   View pdf image
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WILLIAM DONALD SCHAEFER, Governor                   Ch. 311

The resolution or trust indenture may set forth the rights
and remedies of the bondholders and of the trustee, and may
restrict the individual right of action of bondholders as is
customary in trust indentures securing bonds and debentures of
corporations. Except as in this subtitle otherwise provided, the
Authority may provide by resolution or by the trust indenture for
the payment of the proceeds of the sale of the bonds and the
revenue of the market and the park to such officer, board, or
depositary as it determines for the custody thereof, and for the
method of disbursement thereof, with such safeguards and
restrictions as it determines. All expenses incurred in carrying
out such trust indenture may be treated as a part of the cost of
maintenance, operation and repair of the market or park.

[13-112.] 6-112.

(a)  The Authority may fix and revise from time to time,
rates or charges for the use of the facilities of the market or
the park, including any ancillary or other appurtenant
facilities, and charge and collect the same, and contract with
any person, partnership, or association, desiring the use of any
of the facilities of the market or the park or any part or parts
thereof, and fix the terms, conditions, and rates of charges for
such use.

(b)  The rates and charges shall be fixed and adjusted to
provide maximum revenues from the market and the park as
determined by the Authority, and the rates or charges shall not
be subject to supervision or regulation by any other commission,
board, bureau, or agency of the State or any political
subdivision thereof, so long as the Authority is in existence.
The rates, charges, and all other revenues derived from the
market and the park, except the part or parts thereof required to
pay the current expenses of the market and the park and to
provide reserves as provided for in the resolution authorizing
the issuance of the bonds or in the trust indenture, shall be set
aside at such regular intervals as provided in the resolution or
trust indenture, in a sinking fund which is hereby pledged to and
charged with the payment of (1) the interest upon the revenue
bonds provided for in § [13-111] 6-111 as the interest falls due,
(2) the principal of the revenue bonds as it falls due, (3) the
necessary fiscal agency charges for paying principal and
interest, and (4) any premium upon the revenue bonds retired by
call or purchase as herein provided. The use and disposition of
the sinking fund shall be subject to such regulations as is
provided in the resolution authorizing the issuance of the
revenue bonds, or in the trust indenture, but except as otherwise
may be provided in the resolution or trust indenture, the sinking
fund shall be a fund for the benefit of all revenue bonds without
distinction or priority of one over another. Subject to the
provisions of the resolution authorizing the issuance of bonds or
of the trust indenture, any moneys in the sinking fund in excess
of an amount equal to 1 year's interest on all the revenue bonds

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Session Laws, 1987
Volume 769, Page 1623   View pdf image
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