Ch. 86                                     1995 LAWS OF MARYLAND

may not enter into any covenant which permits the trustee or bondholders to sell or
otherwise divest the [District] COUNTY 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] COUNTY 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
proceeds of any such issue of revenue bonds secured by the trust indenture, and the
marshalling of the revenues from any such project or projects for the use and benefit of
bondholders.

(e)     In addition to the covenants enumerated in subsection (d) of this section but
subject to the following limitations, the [District] COUNTY may make further additional
covenants in any trust indenture, of like or different character as is necessary, convenient,
or desirable for the better security of any issue of its revenue bonds secured by the trust
indenture or as will, in its judgment, tend to make the bonds more marketable.

6-403.

(a) As a method of financing the cost of constructing a project in one or more
subdistricts, the [District] COUNTY may borrow money from a bank and issue and
deliver to such bank notes or bonds of the [District] COUNTY to evidence such
borrowing.

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