(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.

5-1207.

(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 OBLIGATIONS OR TO IMPLEMENT THE
CORPORATION'S PROGRAMS, MAY NOT INURE TO THE BENEFIT OF ANY PERSON
OTHER THAN WASHINGTON COUNTY.

5-1208.

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.

5-1209.

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,

- 4195 -

PARRIS N. GLENDENING, Governor

Ch. 737