R ESOLUTION 26-01 Page 6
and the option to pledge as security for all or some of the Series 2026 PFC Bonds, in addition to PFC Revenues, other legally available revenues generated from operation of the airport facilities at BWI Marshall Airport, as deemed appropriate by the Executive Director of the MDTA, in accordance with the Act and this Resolution. Section 12. The MDTA hereby authorizes its Executive Director and all other proper officers of the MDTA to create, supplement, and amend the Bond Documents and to take such actions or cause to be taken such actions as shall be necessary, proper and convenient for carrying out the purposes of this Resolution, including, but not limited to, expending funds, incurring costs and holding any necessary public hearings. Section 13. The MDTA hereby authorizes the Executive Director to approve all contracts relating to the Series 2026 PFC Bonds prior to submission to the Board of Public Works in accordance with the terms and conditions of the PFC Financing Agreements, the Lease Agreements, or any other Bond Documents entered into by and between the MDOT MAA and the MDTA. Section 14. In exercising such authority, the Executive Director is hereby authorized generally to take such actions as may be appropriate to ensure compliance by the MDTA with the terms and conditions of the applicable Bond Documents and with the provisions of applicable law. Section 15. The Executive Director will provide periodic updates to the Finance Committee and the MDTA Board of all contracts and project improvements approved by the Executive Director in accordance with this Resolution. Section 16. This Resolution shall be effective immediately upon its adoption.
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