PARRIS N. GLENDENING, Governor                                Ch. 302

(6)      A PROVISION ESTABLISHING THAT THE REVENUE BOND PROCEEDS
ARE TRUST FUNDS FOR THE PURPOSES FOR WHICH THE BONDS ARE AUTHORIZED;

(7)      A PROVISION ESTABLISHING A LIEN ON THE REVENUE BOND
PROCEEDS IN FAVOR OF THE HOLDERS OF ANY BONDS OR ANY TRUSTEE UNTIL THE
MONEYS ARE APPLIED TO THE PURPOSES FOR WHICH THE BONDS ARE
AUTHORIZED;

(8)      A PROVISION ESTABLISHING THAT THE RECREATIONAL FACILITIES
REVENUE AUTHORITY MAY SECURE ANY REVENUE BOND ISSUED TO PROVIDE
FUNDS FOR ANY PROJECT BY A TRUST INDENTURE BETWEEN THE AUTHORITY AND
A CORPORATE TRUSTEE;                                                                                       

(9)      A PROVISION ESTABLISHING THAT THE RECREATIONAL FACILITIES
REVENUE AUTHORITY MAY FIX RATES, FEES, RENTS, AND CHARGES FOR THE USE
OF ANY OF ITS PROJECTS SUFFICIENT TO OPERATE AND MAINTAIN THE PROJECT,
PAY THE PRINCIPAL OF AND INTEREST ON ITS BONDS, AND MAINTAIN A SINKING
FUND PLEDGED AND CHARGED WITH THE PAYMENT OF INTEREST ON THE
PRINCIPAL OF THE BONDS, ADMINISTRATIVE CHARGES BY THE DEPOSITORY OF THE
FUND PAYING SUCH PRINCIPAL AND INTEREST, AND ANY PREMIUM ON THE BONDS
RETIRED BY CALL OR PURCHASE;

(10)    A PROVISION ESTABLISHING THAT EXCEPT FOR REVENUES
REQUIRED TO PAY THE COST OF OPERATING AND MAINTAINING ANY PROJECT AND
PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS AND MAINTAIN THE SINKING
FUND, ALL OTHER REVENUES MAY BE PLACED IN A FUND PLEDGED AND CHARGED
WITH FINANCING PROJECTS DEVOTED WHOLLY OR PARTIALLY FOR PUBLIC
RECREATIONAL USE, INCLUDING, BUT NOT LIMITED TO, PARKS, SWIMMING POOLS,
NO MORE THAN THREE GOLF COURSES, TENNIS COURTS, ARENAS, STADIUMS AND
RECREATIONAL FACILITIES;

(11)    A PROVISION ESTABLISHING THE RIGHTS AND REMEDIES OF
BONDHOLDERS;

(12)    A PROVISION ESTABLISHING THAT UNLESS OTHERWISE PROVIDED
IN THE RESOLUTION AUTHORIZING ANY ISSUE OF BONDS, OR UNLESS OTHERWISE
PROVIDED IN THE TRUST INDENTURE THAT SECURES THE BONDS, ALL MONEYS BE
DEPOSITED BY THE RECREATIONAL FACILITIES REVENUE AUTHORITY IN ONE OR
MORE BANKS OR TRUST COMPANIES IN ONE OR MORE SPECIAL ACCOUNTS;

(13)    A PROVISION ESTABLISHING THAT THE RECREATIONAL FACILITIES
REVENUE AUTHORITY MUST HAVE AN ANNUAL EXAMINATION OF ITS BOOKS,
ACCOUNTS, AND RECORDS BY A CERTIFIED PUBLIC ACCOUNTANT; AND

(14)    A PROVISION ESTABLISHING THAT THE RECREATIONAL FACILITIES
REVENUE AUTHORITY IS PERFORMING AN ESSENTIAL GOVERNMENTAL FUNCTION
AND IS NOT REQUIRED TO PAY ANY TAX OR ASSESSMENT ON ANY FACILITY OR
PART OF A FACILITY, ACTIVITIES IN THE OPERATION OF ANY FACILITY, ANY
REVENUES FROM OPERATION OF ANY FACILITY OR PROJECT, OR THE BONDS OF
THE AUTHORITY OR THE INTEREST ON THEM

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