PARRIS N. GLENDENING, Governor

Ch. 120

(k) (1) At the discretion of the Corporation, the bonds may be secured by a
trust indenture by and between the Corporation and corporate trustee, which may be any
trust company or bank having the powers of a trust company within or outside of the
State. Either the resolution providing for the issuance of bonds or the trust indenture may
contain provisions for protecting and enforcing the rights and remedies of the
bondholders, including covenants setting forth the duties of the Corporation in relation to
the custody, safeguarding, and application of all moneys. It shall be lawful for any
corporation or trust company incorporated under the laws of this State to act as
depository of the proceeds of the bonds or revenues and to furnish any indemnity bonds
or to pledge any securities that the Corporation requires.

(2) The resolution or trust indenture may set forth the rights and remedies
of the bondholders and of any trustee, and may restrict the individual right of action of
bondholders. The Corporation may provide by resolution or by the trust indenture for the
payment of the proceeds of the sale of the bonds and the revenues of the Corporation to
such officer, board, or depository as it determines for their custody and for the method of
disbursement, with such safeguards and restrictions as it determines. All expenses
incurred in carrying out any trust indenture may be treated as a part of the cost of
operation of the Corporation.

[5-107.] 5-207.

(a)     The Corporation may fix and revise from time to time rates or charges for the
use of the services of the Corporation, and charge and collect the same, and contract with
any person, partnership, association, or corporation desiring the use of any of the services
of the Corporation, and fix the terms, conditions, and rates of charges for such use.

(b)     The rates or charges of the Corporation shall not be subject to supervision or
regulation by any other commission, board, bureau, or agency of the State or any political
subdivision thereof. The rates, charges, and all other revenues derived by the Corporation
may be applied by the Corporation to any lawful purpose, subject to the provisions of any
resolution, trust indenture, or other agreement relating to bonds or the Corporation.

(c)     The net earnings of the Corporation, aside from those necessary to pay debt
service or to implement the Corporation's programs, may not inure to the benefit of any
person other than the State,

[5-108.] 5-208.

Any holder of bonds issued under the provisions of this subtitle and the trustee
under the trust indenture, if any, except to the extent the rights granted by this subtitle
are restricted by resolution passed before the issuance of the bonds or by the trust
indenture, either at law or in equity, by suit, action, mandamus, or other proceedings, may
protect and enforce any and all rights under the laws of Maryland or under the resolution
or trust indenture, and may enforce and compel performance of all duties required by this
subtitle or by the resolution or trust indenture to be performed by the Corporation, or any
officer of the Corporation.

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