WILLIAM DONALD SCHAEFER, Governor Ch. 311

(f)  If any officer or employee of the Administration whose
manual or facsimile signature appears on any bonds, notes, or
coupons ceases to hold [his] office or employment before delivery
of the bonds or notes, the signature is nevertheless valid and
sufficient for all purposes as if [he] THE PERSON had remained in
the office or employment until delivery.

(g)  The bonds or notes may be issued in coupon or in
registered form or both. Provision may be made for registration
of coupon bonds or notes as to principal only, or as to both
principal and interest, and for reconversion into coupon form of
bonds or notes registered as to both principal and interest, and
for interchange of coupon and registered bonds or notes.

(h) The bonds and notes are exempt from the provisions of
§§ 8-206, 8-208, and 8-213 through 8-221 of the State Finance and
Procurement Article.

(i) The Administration may issue its bonds or notes without
obtaining the consent of any other unit of the State government,
and without any proceedings, or the occurrence of any conditions,
other than those expressly required by this section.

(j) The Secretary [of Economic and Community Development]
and any other person executing the bonds or notes is not
personally liable or accountable by reason of their issuance.

(k) The Administration may provide, by determination, for
the issuance of notes to renew its notes, and bonds to pay its
notes or to fund or refund its bonds, whether or not the bonds to
be refunded have matured, including the payment of any redemption
premium and any interest accrued or to accrue on the notes or
bonds to be renewed, paid, or refunded. The issuance of renewal
notes or refunding bonds and all incidents thereof are governed
by the provisions of this section insofar as applicable.

(1) Bonds or notes issued by the Administration may be
secured by a trust agreement between the Administration and a
trustee, which may be any trust company, or bank having trust
powers, within or without [Maryland] THE STATE. Any trust
agreement, or any determination authorizing the issuance of bonds
or notes, may contain:

(1)  Subject to then existing agreements with
bondholders or noteholders, provisions pledging or assigning all
or any part of the revenues of the Administration, mortgages or
loans made by the Administration or the security therefor, the
proceeds of any bonds or notes of the Administration, or any
combination of these and any other assets of the Administration,
to secure payment of bonds or notes;

(2)  Provisions protecting and enforcing rights and
remedies of bondholders or noteholders, including restrictions on

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