Ch. 523

1993 LAWS OF MARYLAND

(C)      THE DISTRICT MAY SECURE ANY REVENUE BONDS ISSUED UNDER THIS
SECTION BY AN APPROPRIATE TRUST INDENTURE BY AND BETWEEN THE DISTRICT
AND A CORPORATE TRUSTEE, WHICH MAY BE ANY TRUST COMPANY, OR BANK
HAVING TRUST POWERS, WITHIN OR OUTSIDE THE STATE. EVERY SUCH TRUST
INDENTURE, AND REVENUE BONDS SECURED THEREBY, SHALL CLEARLY RECITE
THAT THE BONDS ARE OBLIGATIONS OF THE DISTRICT, PAYABLE SOLELY FROM ITS
REVENUES, AND DO NOT CONSTITUTE OBLIGATIONS OF THE COUNTY OR OF THE
STATE OF MARYLAND. A TRUST INDENTURE MAY CONTAIN COVENANTS ON THE
PART OF THE DISTRICT, NOT; CONTRARY TO LAW, DEEMED NECESSARY OR
APPROPRIATE BY THE COMMISSION FOR THE PROPER SECURITY OF THE
PURCHASERS OF THE BONDS. THE DISTRICT MAY NOT ENTER INTO ANY COVENANT
WHICH PERMITS THE TRUSTEE OR BONDHOLDERS TO SELL OR OTHERWISE DIVEST
THE DISTRICT OF ITS TITLE TO ANY PROJECT OR PROJECTS FINANCED WITH THE
PROCEEDS OF ANY SUCH BONDS WITHOUT THE PRIOR WRITTEN CONSENT OF THE
COUNTY AND THE DISTRICT.

(D)     SUBJECT TO THE LIMITATION SPECIFIED IN SUBSECTION (C) OF THIS
SECTION, A TRUST INDENTURE MAY CONTAIN COVENANTS FOR THE PROTECTION
OF BONDHOLDERS, RELATING TO ALL OR ANY OF THE FOLLOWING:

(1)      THE NATURE, EXTENT, AND PROCEDURE FOR ACQUIRING OR
CONSTRUCTING ANY PROJECT OR PROJECTS AND THEIR SUPERVISION;

(2)   , THE MAINTENANCE AND OPERATION OF ANY SUCH PROJECT OR
PROJECTS AND THEIR SUPERVISION, THE EMPLOYMENT OF CONSULTING
ENGINEERS, AUDITORS, ATTORNEYS, AND OTHER EXPERTS IN CONNECTION WITH
ANY SUCH ACQUISITION, CONSTRUCTION, MAINTENANCE, OR OPERATION;

(3)      THE TERMS AND PROVISIONS OF THE BONDS AND THE SECURING OF
THEIR PROCEEDS; THE IMPOSITION AND COLLECTION OF ASSESSMENTS, CHARGES
AND RENTALS FOR THE USE OF ANY SUCH PROJECT OR PROJECTS; AND THE USE,
APPLICATION AND SECURING OF ANY REVENUES SO COLLECTED, INCLUDING THE
ESTABLISHMENT, DEPOSIT AND SECURING FROM ANY SUCH REVENUES OR
RESERVES FOR DEBT SERVICE ON, OR PRIOR REDEMPTION OF, ANY SUCH REVENUE
BONDS, OR FOR THE MAINTENANCE, OPERATION, AND IMPROVEMENT OF ANY SUCH
PROJECT OR PROJECTS;

(4)      THE INSURANCE ON ANY SUCH PROJECT OR PROJECTS;

(5)      THE ISSUANCE OF ADDITIONAL REVENUE BONDS FOR ANY SUCH
PROJECT OR PROJECTS AND THE LIMITATIONS ON THEM;

(6)      THE POWERS, DUTIES, AND INDEMNIFICATION OF ANY TRUSTEE, OR
ITS SUCCESSOR, PARTY TO ANY SUCH TRUST INDENTURE;

(7)      THE RIGHTS AND REMEDIES OF THE TRUSTEE AND THE
BONDHOLDER IN THE EVENT OF ANY DEFAULT BY THE DISTRICT UNDER ANY
TRUST INDENTURE. THE RIGHTS AND REMEDIES MAY INCLUDE THE TAKING OVER
OF ANY OPERATION BY THE TRUSTEE OR BY A RECEIVER APPOINTED BY A COURT
OF COMPETENT JURISDICTION OF THE PROJECT OR PROJECTS FINANCED WITH THE

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