WILLIAM DONALD SCHAEFER, Governor                      Ch. 93

(I)  FOR THE PAYMENT OF THE FINANCING OR
REFINANCING OF OR REIMBURSEMENT TO A SYSTEM OF THE COSTS OF ANY
PROJECT FOR WHICH THE BONDS ARE ISSUED;

(II)  FOR THE ACQUISITION OF ANY AUXILIARY
FACILITY OR ACADEMIC FACILITY PREVIOUSLY FINANCED THROUGH A
CAPITAL LEASE WITH A SYSTEM OR ANY PREDECESSOR; OR

[(iv)] (V) Any (III) FOR ANY combination
thereof.

(2) The proceeds of the bonds of each issue shall be
disbursed under the terms and conditions of the resolution or
trust agreement relating to such bonds. The resolution or trust
agreement may provide for the issuance of additional bonds to
finance or refinance any [auxiliary] EDUCATIONAL facility
AUXILIARY FACILITY OR ANY ACADEMIC FACILITY THAT WAS AUTHORIZED
UNDER THE REQUIREMENTS OF THIS TITLE. Unless otherwise provided
in the resolution authorizing the issuance of the bonds or in the
trust agreement securing them, the additional bonds shall be
deemed to be of the same issue and shall be entitled to payment
from the same sources without preference or priority of the bonds
first issued.

(f)  Prior to the preparation of definitive bonds, (the
System] A SYSTEM, under like restrictions, may issue interim
receipts or temporary bonds, with or without coupons, exchangable
for definitive bonds when the bonds are executed and available
for delivery. The resolution or trust agreement may provide for
the replacement of any bonds mutilated, destroyed, or lost.

(g)  Bonds may be issued under the provisions of this title
without obtaining the consent of any department, division,
commission, board, bureau, or agency of the State, and without
any other proceedings or the happening of any other conditions or
things than those proceedings, conditions, or things which are
required specifically by provisions of this title. The
provisions of [Article 31, §§ 9 through 11 of the Code] TITLE 8,
SUBTITLE 2 OF THE STATE FINANCE AND PROCUREMENT ARTICLE do not
apply to bonds issued under the provisions of this title.

(h) Any bonds issued under the authority of this title do
not create or constitute any indebtedness or obligation of the
State or of any political subdivision thereof except [the System]
A SYSTEM, and the bonds shall so state on their face. The bonds
do not constitute a debt or obligation contracted by the General
Assembly or pledge the faith and credit of the State within the
meaning of Article III, § 34 of the Maryland Constitution.

(i) (1) Under the resolution or trust agreement, [the
System] A SYSTEM may pledge to the payment of the principal of
and premium, if any, and interest on the bonds:

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