PARRIS N. GLENDENING, Governor

S.B. 810

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.

[5-109.] 5-209.

Bonds of the Corporation issued under the provisions of this subtitle are securities
in which all public officers, political subdivisions, banks, trust companies, savings and loan
associations, investment companies, insurance associations and others carrying on an
insurance business, personal representatives, administrators, executors, guardians,
trustees, other fiduciaries, and other persons may legally and properly invest funds,
including capital in their control or belonging to them. The bonds are securities which
properly and legally may be deposited with and received by any political subdivision or
any officer of the State or of any political subdivision for any purpose for which the
deposit of bonds or other obligations of the State is authorized by law.

[5-110.] 5-210.

With the exception of the State and local real estate taxes as required below, the
Corporation shall not be required to pay any taxes or assessments upon its properties or
activities or upon any revenues therefrom; provided however that whenever the

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