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Session Laws, 1951
Volume 603, Page 674   View pdf image (33K)
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674 LAWS OP MARYLAND [CH. 264

restrict the individual right of action by bondholders as is
customary in trust agreements or trust indentures secur-
ing bonds and debentures of corporations. In addition to
the foregoing, any such trust agreement may contain such
other provisions as [the Authority] said University may
deem reasonable and proper for the security of the bond-
holders, including covenants to abandon, restrict or pro-
hibit the construction or operation of competing facilities.
All expenses incurred in carrying out the provisions of any
such trust agreement may be treated as a part of the cost
of the operation of the project or projects.

235E. The [Authority] University of Maryland is here-
by authorized (a) to fix, revise, charge and collect fees
from students of the University of Maryland for the right
to use the projects or any one or more or part thereof and
to make mandatory the payment of such fees and charges;
(b) to permit persons other than students to make use of
the projects or any one or more or part thereof and to
fix, revise, charge and collect fees for use of or admission
to the same; and (c) to contract with any person, partner-
ship, association or corporation desiring to use any project
or any part thereof for the use of the same, and to fix the
terms, conditions, rents and rates of charges for such use.

[or from any others that may make use of these projects
for the use of each project; ] Such fees, [and] charges and
revenues
shall be so fixed and adjusted in respect to the
aggregate of moneys necessary to retire the revenue bonds
herein authorized and to maintain, repair and operate
these projects, and to pay the principal of and the interest
on such bonds as the same shall become due and payable
and to create reserves for such purposes. Such fees and
charges shall not be subject to supervision or regulation
by any other commission, board, bureau or agency of the
State. [The Board of Regents of the University of Mary-
land shall set up in its working budget each year, as a
priority over all other expenditures, from the fees and
revenues received under the provisions of this sub-title, an
amount sufficient to cover the interest on the revenue bonds
herein provided as such interest is so due, the principal on
such bonds as the same is so due, the necessary charges
of paying agencies for paying principal and interest, and
the redemption price or the purchase price of bonds retired
by call or purchase as they are provided. ] The fees, charges
and other revenues derived from the project or projects
in connection with which the bonds of any issue shall have
been issued (except such part thereof as may be necessary
to pay the cost of maintaining, equipping, repairing and
operating said projects and to provide such reserves there-



 

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Session Laws, 1951
Volume 603, Page 674   View pdf image (33K)
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