PARRIS N. GLENDENING, Governor

Ch. 599

Article IX

Trust Funds

All moneys received pursuant to the authority of this Act, whether as proceeds from
the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied
solely as provided in this Act. The resolution authorizing the bonds of any issue or the
trust indenture securing such bonds shall provide that any officer with whom, or any bank
or trust company with which, such moneys shall be deposited shall act as trustee of such
moneys and shall hold and apply the same for the purposes thereof, subject to such
regulations as this Act and such resolution or trust indenture may provide.

Article X

Remedies

Any holder of bonds, notes, or other evidence of obligation issued under the
provisions of this Act or any of the coupons appertaining thereto, and the trustee under
any trust indenture, except to the extent the rights herein given may be restricted by such
trust indenture or the resolution authorizing the issuance of such bonds, notes, or other
evidence of obligation, may, either at law or in equity, by suit, action, mandamus or other
proceeding, protect and enforce any and all rights under the laws of the State of
Maryland, THE COMMONWEALTH OF VIRGINIA OR THE DISTRICT OF COLUMBIA or
granted hereunder or under such trust indenture or the resolution authorizing the
issuance of such bonds, notes, or other evidence of obligation, and may enforce and
compel the performance of all duties required by this Act or by such trust indenture or
resolution to be performed by the Authority or by any officer thereof, including the fixing,
charging, and collecting of tolls.

Article XI

Tax Exemption

The exercise of the powers granted by this Act will be in all respects for the benefit
of the people of the State of Maryland and for the increase of their commerce and
prosperity, and as the operation and maintenance of the project will constitute the
performance of essential governmental functions, the Authority shall not be required to
pay any taxes or assessments upon the project or any property acquired or used by the
Authority under the provisions of this Act or upon the income therefrom, and the bonds,
notes, or other evidence of obligation issued under the provisions of this Act, their
transfer and the income therefrom (including any profit made on the sale thereof) shall at
all times be free from taxation within the State of Maryland.

Article XII

Bonds, Notes, or Other Evidence of Obligation Eligible for Investment

Bonds, notes, or other evidence of obligation issued by the Authority under the
provisions of this Act are hereby made securities in which all public officers and public
bodies of the State of Maryland and its political subdivisions, all insurance companies,

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