Ch. 428                                    2004 LAWS OF MARYLAND

(7)      MEMBERS OF THE COMMITTEE:

(I)      MAY NOT RECEIVE COMPENSATION; BUT

(II)     ARE ENTITLED TO REIMBURSEMENT FOR EXPENSES UNDER
THE STANDARD STATE TRAVEL REGULATIONS, AS PROVIDED IN THE STATE BUDGET.

(8)      THE DEPARTMENT OF THE ENVIRONMENT, DEPARTMENT OF
AGRICULTURE, DEPARTMENT OF PLANNING, DEPARTMENT OF NATURAL
RESOURCES, AND DEPARTMENT OF BUDGET AND MANAGEMENT SHALL PROVIDE
STAFF SUPPORT FOR THE COMMITTEE.

(G) (1) (K) THE DEPARTMENT SHALL ADOPT ANY REGULATIONS THAT ARE
NECESSARY OR APPROPRIATE TO CARRY OUT THE PROVISIONS OF THIS SUBTITLE
SECTION.

(2) THE DEPARTMENT, IN CONSULTATION WITH THE WATERSHED FUND
ADVISORY COMMITTEE, MAY ADOPT REGULATIONS THAT ESTABLISH THE AMOUNT,
METHOD OF CALCULATION, AND TYPES OF ENVIRONMENTAL SURCHARGES TO BE
DEPOSITED IN THE WATERSHED RESTORATION FUND FOR FISCAL YEAR 2008 AND
SUBSEQUENT YEARS.

9-1611.

(a)     Bonds may be secured by a trust agreement by and between the
Administration and a corporate trustee, which may be any trust company or bank
having trust powers, within or without the State. Such trust agreement may pledge or
assign all or any part of the revenues or corpus of the Water Quality [Fund or] FUND,
Drinking Water Loan Fund, OR WATERSHED BAY RESTORATION FUND, or any
account [therein] WITHIN THESE FUNDS, and may pledge or assign or grant a lien on
or security interest in any loan agreement or loan obligation. Any such trust
agreement or resolution authorizing the issuance of bonds may contain such
provisions for the protection and enforcement of the rights and remedies of the
bondholders as may be deemed reasonable and proper, including covenants setting
forth the duties of the Administration in relation to the making, administration and
enforcement of loans and the custody, safeguarding and application of moneys. Such
trust agreement may set forth the rights and remedies of the bondholders and of the
trustee and may restrict the individual right of action by bondholders. In addition to
the foregoing, such trust agreement may contain such other provisions as the Director
may deem reasonable and proper for the security of the bondholders, including,
without limitation, covenants pertaining to the issuance of additional parity bonds
upon conditions stated therein consistent with the requirements of this subtitle.

(b)     The proceeds of the sale of bonds shall be disbursed in such manner and
under such restrictions, if any, as may be provided in such trust agreement.

(c)      (1) The revenues and moneys designated as security for bonds shall be
set aside at such regular intervals as may be provided in the bond resolution in a
special account in the Water Quality Fund, if the net sale proceeds will be deposited in
the Water Quality Fund, [or] the Drinking Water Loan Fund, if the net sale proceeds
will be deposited in the Drinking Water Loan Fund, OR THE WATERSHED BAY

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