(a) The Authority may fix and revise rates, tolls, rents, and charges for the use of any of its projects, and may charge and collect them.
(b) The Authority may contract with any person who wants to use a project, either in whole or in part, and may fix the terms, conditions, and charges for the use.
(c) Rates, tolls, rents, or charges should be fixed and adjusted to provide a fund sufficient to pay:
(1) the cost of maintaining, preparing, and operating the project from which the rates, tolls, rents, and charges are received, including reserves for replacement, depreciation, and any extension of the project; and
(2) the principal and interest of the bonds issued to provide the funds for the acquisition, construction, improvement, equipping, maintaining, operating, or furnishing the project, and any applicable reserves.
(d) The rates, tolls, rents, and charges of the Authority are not subject to supervision or regulation by any State, County, or municipal entity.
(e) Except for revenues required to pay the cost of maintaining, repairing and operating any project, or to provide reserves, or permitted in the resolution authorizing the issuance of the revenue bonds or the trust indenture, the rates, tolls, rents, or charges, and all other revenues received by the Authority from any project must be placed in a sinking fund at such intervals as may be provided in the resolution or trust indenture. The sinking fund is pledged to and charged with the payment of:
(1) interest due on the bonds issued to provide funds for the project;
(2) principal due on the bonds;
(3) administrative charges by the depository of the fund for paying such principal and interest; and
(4) any premium on the bonds retired by call or purchase.
(f) (1) Subject to the resolution authorizing the issuance of the bonds or of the trust indenture, the sinking fund is for the benefit of all bonds without distinction or priority of one over another.
(2) Subject to the resolution authorizing the issuance of bonds or of the trust indenture, any moneys in the sinking fund in excess of an amount equal to 2 years interest on all such bonds then outstanding may be applied to the purchase or redemption of the bonds. All bonds so purchased or redeemed must be canceled. (1992 L.M.C., ch. 35, § 2.)