The resolution authorizing the issuance of bonds, any order executed pursuant to the resolution, or the trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper, including:
(1) covenants setting forth the duties of the Authority in relation to the construction, acquisition, improvement, installation, maintenance, operating, repair, and insurance of any project, and the custody, safeguarding, and application of all proceeds;
(2) provisions that a project shall be constructed and paid for under the supervision and approval of consulting engineers employed or designated by the Authority and satisfactory to the trustee or, if none, the original purchasers of the bonds; and
(3) provisions setting forth the rights and remedies of the bondholders and of the trustee and restricting the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations.
(1985 Code, Art. 2, § 12-214) (Bill No. 115-97)