PARRIS N. GLENDENING, Governor                             Ch. 599

MAY SELL THE BONDS IN ANY MANNER, EITHER AT PUBLIC OR PRIVATE SALE, AND
FOR ANY PRICE AS IT MAY DETERMINE WILL BEST EFFECT THE PURPOSES OF THIS
COMPACT.

THE PROCEEDS OF THE BONDS OF EACH ISSUE SHALL BE USED SOLELY FOR
THE PAYMENT OF THE COST OF THE PROJECT AND SHALL BE DISBURSED IN THE
MANNER AND UNDER THE RESTRICTIONS, IF ANY, AS THE AUTHORITY MAY
PROVIDE IN THE RESOLUTION AUTHORIZING THE ISSUANCE OF THE BONDS OR IN
THE TRUST INDENTURE SECURING THE SAME.

IF THE PROCEEDS OF THE BONDS OF ANY ISSUE SHALL BE LESS THAN SUCH
COST BY ERROR OF ESTIMATES OR OTHERWISE, ADDITIONAL BONDS MAY BE
ISSUED TO PROVIDE THE AMOUNT OF SUCH DEFICIT AND UNLESS OTHERWISE
PROVIDED IN THE RESOLUTIONS AUTHORIZING THE ISSUANCE OF SUCH BONDS OR
IN THE TRUST INDENTURE SECURING THE SAME, SHALL BE DEEMED TO BE OF THE
SAME ISSUE AND SHALL BE ENTITLED TO PAYMENT FROM THE SAME FUND
WITHOUT PREFERENCE OR PRIORITY OF THE BONDS FIRST ISSUED. IF THE
PROCEEDS OF THE BONDS OF ANY ISSUE SHALL EXCEED SUCH COST, THE SURPLUS
SHALL BE DEPOSITED TO THE CREDIT OF THE SINKING FUND FOR SUCH BONDS.
PRIOR TO THE PREPARATION OF DEFINITIVE BONDS, THE AUTHORITY MAY,
UNDER LIKE RESTRICTIONS, ISSUE INTERIM RECEIPTS OR TEMPORARY BONDS,
WITH OR WITHOUT COUPONS, EXCHANGEABLE FOR DEFINITIVE BONDS THAT HAVE
BEEN EXECUTED AND ARE AVAILABLE FOR DELIVERY. THE AUTHORITY MAY ALSO
PROVIDE FOR THE REPLACEMENT OF ANY BONDS THAT BECOME MUTILATED,
DESTROYED, OR LOST. BONDS MAY BE ISSUED UNDER THE PROVISIONS OF THIS
COMPACT WITHOUT OBTAINING THE CONSENT OF ANY DEPARTMENT, DIVISION,
COMMISSION, BOARD, BUREAU, OR AGENCY OF THE COMPACT SIGNATORIES, AND
WITHOUT ANY PROVISIONS OR REQUIREMENTS OTHER THAN THOSE PROCEEDINGS,
CONDITIONS, OR THINGS WHICH ARE SPECIFICALLY REQUIRED BY THIS ARTICLE.

Article VII

Trust Indenture

In the discretion of the Authority, any bonds, notes, or other evidence of obligation
issued under the provisions of this Act may be secured by a trust indenture by and
between the Authority and a corporate trustee, which may be any trust company or bank
having the powers of a trust company within or without the State of Maryland. Such trust
indenture or the resolution providing for the issuance of such bonds may pledge or assign
the tolls and other revenues to be received, but shall not convey or mortgage the project
or any part thereof.

Article VIII
Revenues

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